2012•StatisticsRequires access

Reducing bias of the maximum-likelihood estimation for the truncated Pareto distribution

Jin Zhang

Abstract

The Pareto distribution is an important distribution in statistics, which has been widely used in finance, physics, hydrology, geology, astronomy, and so on. Even though the parameter estimation for the Pareto distribution has been well established in the literature, the estimation problem for the truncated Pareto distribution becomes complex. This article investigates the bias and mean-squared error of the maximum-likelihood estimation for the truncated Pareto distribution, and some useful results are obtained.

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Available abstract

Key concepts: Lomax distribution, Pareto distribution, Pareto interpolation, Pareto principle, Mathematics, Distribution (mathematics), Maximum likelihood, Statistics