On entropy of a Pareto distribution in the presence of outliers

M. Jabbari Nooghabi and E. Khaleghpanah Nooghabi

Communications in Statistics - Theory and Methods, 2016, vol. 45, issue 17, 5234-5250

Abstract: The aim of this paper is obtaining the amount of information there exists in the Pareto distribution in the presence of outliers. For the sake of this purpose, Shannon entropy, ϵ-entropy, Fisher information, and Kullback–Leibler distance are computed. Furthermore, a section has been devoted to compare these quantities in these two cases of the Pareto distribution (with outliers and the homogenous case). At the end of this paper, two actual examples, which are related to insurance companies, are brought. A brief summary of which is done in this work is also reported.

Date: 2016
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Citations: View citations in EconPapers (4)

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DOI: 10.1080/03610926.2014.941495

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