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Generalized inverse Lindley distribution with application to Danish fire insurance data

Author

Listed:
  • A. Asgharzadeh
  • S. Nadarajah
  • F. Sharafi

Abstract

The Danish fire insurance data have recently been modeled by composite distributions, i.e., distributions made up by piecing together two or more distributions. Here, we introduce a new non composite distribution that performs well with respect to the Danish fire insurance data. It fits better than almost all of the commonly known heavy-tailed distributions and some of the composite distributions.

Suggested Citation

  • A. Asgharzadeh & S. Nadarajah & F. Sharafi, 2017. "Generalized inverse Lindley distribution with application to Danish fire insurance data," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 46(10), pages 5001-5021, May.
    • Handle: RePEc:taf:lstaxx:v:46:y:2017:i:10:p:5001-5021
    DOI: 10.1080/03610926.2015.1096394
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    Cited by:

    1. Subhradev Sen & Hazem Al-Mofleh & Sudhansu S. Maiti, 2021. "On Discrimination Between the Lindley and xgamma Distributions," Annals of Data Science, Springer, vol. 8(3), pages 559-575, September.
    2. Walena Anesu Marambakuyana & Sandile Charles Shongwe, 2024. "Composite and Mixture Distributions for Heavy-Tailed Data—An Application to Insurance Claims," Mathematics, MDPI, vol. 12(2), pages 1-23, January.
    3. Yuancheng Si & Saralees Nadarajah, 2020. "Lindley Power Series Distributions," Sankhya A: The Indian Journal of Statistics, Springer;Indian Statistical Institute, vol. 82(1), pages 242-256, February.
    4. Valiollahi, R. & Raqab, Mohammad Z. & Asgharzadeh, A. & Alqallaf, F.A., 2018. "Estimation and prediction for power Lindley distribution under progressively type II right censored samples," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 149(C), pages 32-47.
    5. Bhati, Deepesh & Ravi, Sreenivasan, 2018. "On generalized log-Moyal distribution: A new heavy tailed size distribution," Insurance: Mathematics and Economics, Elsevier, vol. 79(C), pages 247-259.

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