Another Approaches to Modeling the Wage and Income Distribution Based on the Use of Order Statistics

@article{5430,
   author = {Bílková, Diana},
   article_number = {Issue.1},
   keywords = {Order statistics; L-moments and TL-moments; probability density function; distribution function; quantile function},
   language = {eng},
   issn = {2051-4271},
   journal = {International Journal of Mathematical and Computer Modelling},
   note = {Afiliace k VŠFS i k VŠE. AR 2016/2017 - odesláno do RIV. (duben 2017)},
   title = {Another Approaches to Modeling the Wage and Income Distribution Based on the Use of Order Statistics},
   volume = {Vol.21},
   year = {2016}
}

TY  - JOUR
ID  - 5430
AU  - Bílková, Diana
PY  - 2016
TI  - Another Approaches to Modeling the Wage and Income Distribution Based on the Use of Order Statistics
JF  - International Journal of Mathematical and Computer Modelling
VL  - Vol.21
IS  - Issue.1
SP  - 1193-1218
EP  - 1193-1218
SN  - 20514271
N1  - Afiliace k VŠFS i k VŠE. AR 2016/2017 - odesláno do RIV. (duben 2017)
KW  - Order statistics
KW  - L-moments and TL-moments
KW  - probability density function
KW  - distribution function
KW  - quantile function
N2  - Despite not producing good results, the method of moments is commonly applied when constructing the parametric distribution for a data file. An alternative approach is to use the so-called order statistics. The present paper deals with the application of order statistics (parameter estimation methods of L-moments and TL-moments) to the economic data. Theoretical advantages of L-moments over conventional moments become obvious when applied to small data sets, e.g. in hydrology, meteorology and climatology, considering extreme precipitation in particular. The main aim of this paper is to apply the two methods to large data sets, comparing their parametric estimation accuracy with that of the maximum likelihood method. The methods of L-moments and TL-moments are utilized for the construction of income and wage distribution models. Three-parameter lognormal curves represent the basic theoretical probability distribution whose parameters were estimated simultaneously by the three methods of parameter estimation, their accuracy having been then evaluated.
ER  - 

BÍLKOVÁ, Diana. Another Approaches to Modeling the Wage and Income Distribution Based on the Use of Order Statistics. \textit{International Journal of Mathematical and Computer Modelling}. Vol.21, Issue.1, s.~1193-1218. ISSN~2051-4271. 2016.