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Weighted Generalized Beta Distribution of the Second Kind and Related Distributions

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  • Yuan Ye
  • Broderick O. Oluyede
  • Mavis Pararai

Abstract

In this paper, a new class of weighted generalized beta distribution of the second kind (WGB2) is presented. The construction makes use of the "conservability approach" which includes the size or length-biased distribution as a special case. The class of WGB2 is used as descriptive models for the distribution of income. The results that are presented generalizes the generalized beta distribution of second kind (GB2). The properties of these distributions including behavior of hazard functions, moments, variance, coefficients of variation, skewness and kurtosis are obtained. The moments of other weighted distributions that are related to WGB2 are obtained. Other important properties including entropy (generalized and beta) which are measures of the uncertainty in this class of distributions are derived and studied.

Suggested Citation

  • Yuan Ye & Broderick O. Oluyede & Mavis Pararai, 2012. "Weighted Generalized Beta Distribution of the Second Kind and Related Distributions," Journal of Statistical and Econometric Methods, SCIENPRESS Ltd, vol. 1(1), pages 1-2.
    • Handle: RePEc:spt:stecon:v:1:y:2012:i:1:f:1_1_2
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    Cited by:

    1. Bernard, Carole & De Gennaro Aquino, Luca & Levante, Lucia, 2021. "Optimal annuity demand for general expected utility agents," Insurance: Mathematics and Economics, Elsevier, vol. 101(PA), pages 70-79.
    2. Trino-Manuel Niguez & Ivan Paya & David Peel & Javier Perote, 2013. "Higher-order moments in the theory of diversification and portfolio composition," Working Papers 18297128, Lancaster University Management School, Economics Department.

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