A multimodal beta distribution with application to economic data

Saralees Nadarajah, and Samuel Kotz. "A multimodal beta distribution with application to economic data." Applicationes Mathematicae 34.1 (2007): 1-14. <http://eudml.org/doc/279706>.

@article{SaraleesNadarajah2007,
abstract = {Beta distributions are popular models for economic data. In this paper, a new multimodal beta distribution with bathtub shaped failure rate function is introduced. Various structural properties of this distribution are derived, including its cdf, moments, mean deviation about the mean, mean deviation about the median, entropy, asymptotic distribution of the extreme order statistics, maximum likelihood estimates and the Fisher information matrix. Finally, an application to consumer price indices is illustrated to show that the proposed distribution is a better model to economic data than one based on the standard beta distribution.},
author = {Saralees Nadarajah, Samuel Kotz},
journal = {Applicationes Mathematicae},
keywords = {beta distribution},
language = {eng},
number = {1},
pages = {1-14},
title = {A multimodal beta distribution with application to economic data},
url = {http://eudml.org/doc/279706},
volume = {34},
year = {2007},
}

TY - JOUR
AU - Saralees Nadarajah
AU - Samuel Kotz
TI - A multimodal beta distribution with application to economic data
JO - Applicationes Mathematicae
PY - 2007
VL - 34
IS - 1
SP - 1
EP - 14
AB - Beta distributions are popular models for economic data. In this paper, a new multimodal beta distribution with bathtub shaped failure rate function is introduced. Various structural properties of this distribution are derived, including its cdf, moments, mean deviation about the mean, mean deviation about the median, entropy, asymptotic distribution of the extreme order statistics, maximum likelihood estimates and the Fisher information matrix. Finally, an application to consumer price indices is illustrated to show that the proposed distribution is a better model to economic data than one based on the standard beta distribution.
LA - eng
KW - beta distribution
UR - http://eudml.org/doc/279706
ER -