This paper proposes a modification of the (right) tail for heavy-tailed distributions of non negative random variables which are usually applied to income analyses. This modification assures the existence of those moments employed both with descriptive and with inferential extents. It is then applied to Pareto's and Dagum's distributions.
Zenga, M., Zini, A. (2001). A modification of the right tail for heavy-tailed income distributions. METRON, 59(1-2), 17-25.
A modification of the right tail for heavy-tailed income distributions
ZENGA, MICHELE;ZINI, ALESSANDRO
2001
Abstract
This paper proposes a modification of the (right) tail for heavy-tailed distributions of non negative random variables which are usually applied to income analyses. This modification assures the existence of those moments employed both with descriptive and with inferential extents. It is then applied to Pareto's and Dagum's distributions.
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