A comprehensive account of economic size distributions around theworld and throughout the years
In the course of the past 100 years, economists and appliedstatisticians have developed a remarkably diverse variety of incomedistribution models, yet no single resource convincingly accountsfor all of these models, analyzing their strengths and weaknesses,similarities and differences. Statistical Size Distributions inEconomics and Actuarial Sciences is the first collection tosystematically investigate a wide variety of parametric models thatdeal with income, wealth, and related notions.
Christian Kleiber and Samuel Kotz survey, compliment, compare,and unify all of the disparate models of income distribution,highlighting at times a lack of coordination between them that canresult in unnecessary duplication. Considering models from eightlanguages and all continents, the authors discuss the social andeconomic implications of each as well as distributions of size ofloss in actuarial applications. Specific models coveredinclude:
* Pareto distributions
* Lognormal distributions
* Gamma-type size distributions
* Beta-type size distributions
* Miscellaneous size distributions
Three appendices provide brief biographies of some of theleading players along with the basic properties of each of thedistributions. Actuaries, economists, market researchers, socialscientists, and physicists interested in econophysics will findStatistical Size Distributions in Economics and Actuarial Sciencesto be a truly one-of-a-kind addition to the professionalliterature.