Patel, Rakhee Dinubhai; Schoenberg, Frederic Paik - In: Journal of Applied Statistics 38 (2011) 11, pp. 2547-2562
The Pareto distribution, or power-law distribution, has long been used to model phenomena in many fields, including wildfire sizes, earthquake seismic moments and stock price changes. Recent observations have brought the fit of the Pareto into question, however, particularly in the upper tail...