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Heavy-Tailed Probability Distributions: Some Examples of Their Appearance

Author

Listed:
  • Lev B. Klebanov

    (Department of Probability and Mathematical Statistics, Charles University, 186 75 Prague, Czech Republic)

  • Yulia V. Kuvaeva-Gudoshnikova

    (Department of Finance, Money Circulation and Credit, Ural State University of Economics, 620144 Yekaterinburg, Russia)

  • Svetlozar T. Rachev

    (Department of Mathematics and Statistics, Texas Tech University, Lubbock, TX 79409, USA)

Abstract

We provide two examples of the appearance of heavy-tailed distributions in social sciences applications. Among these distributions are the laws of Pareto and Lotka and some new ones. The examples are illustrated through the construction of suitable toy models.

Suggested Citation

  • Lev B. Klebanov & Yulia V. Kuvaeva-Gudoshnikova & Svetlozar T. Rachev, 2023. "Heavy-Tailed Probability Distributions: Some Examples of Their Appearance," Mathematics, MDPI, vol. 11(14), pages 1-7, July.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:14:p:3094-:d:1193310
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    References listed on IDEAS

    as
    1. W. Brent Lindquist & Svetlozar T. Rachev & Yuan Hu & Abootaleb Shirvani, 2022. "Advanced REIT Portfolio Optimization," Dynamic Modeling and Econometrics in Economics and Finance, Springer, number 978-3-031-15286-3, March.
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