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An Extension of the Inverse Gaussian Distribution

In: MODELING AND ADVANCED TECHNIQUES IN MODERN ECONOMICS

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  • Talha Arslan

Abstract

In this study, an α-monotone extension of the inverse Gaussian (αIG) distribution is introduced. Then, the method of moments estimations for the parameters of the αIG distribution is provided. A real dataset is used to show the fitting performance of the αIG distribution. The results show that the αIG distribution fits the corresponding dataset better than the IG distribution if the well-known goodness-of-fit statistics are taken into account. Note that the αIG distribution is defined as a general class of the IG distribution by adding a new shape parameter. It can be considered an alternative to the IG distribution in modeling data from different areas of science.

Suggested Citation

  • Talha Arslan, 2022. "An Extension of the Inverse Gaussian Distribution," World Scientific Book Chapters, in: Çağdaş Hakan Aladağ & Nihan Potas (ed.), MODELING AND ADVANCED TECHNIQUES IN MODERN ECONOMICS, chapter 10, pages 211-219, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800611757_0010
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    Keywords

    Harmonic Regression; Periodograms; Consumer Price Index; Food Inflation; Turkey; Gaussian Distribution; Europe Union; GDP; Panel Data; Spatial Regression; Measurement Errors; Nonlinear Time Series; Chaotic Time Series; Weibull Distribution; Location Parameters; Fiducial Approach; Hypothesis Testing; Green Swan; Financial Stability; Annex II Countries; Financial Time Series; Kernels; Stock Index; Machine Learning; Statistical Learning; Optimization; WSAR Algorithm; Deep Neural Networks; Phyton; Parameter Estimation; COVID-19; Clustering Analyses; Artificial Neural Networks; Performance Criteria; Time Series Forecasting; Statistical Inference;
    All these keywords.

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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