A good prediction is very important for scientific, economic, and administrative purposes. It is therefore necessary to know whether a predictor is skillful enough to predict the future. Given the increased reliance on predictions in various disciplines, a prediction skill index (PSI) is...

Given that the Lorenz curve is widely used for analyzing income distribution and inequality, this study introduces an alternative functional form for the Lorenz curve that is constructed based on the weighted average of the exponential function and the functional form implied by Pareto...