A Marshall–Olkin family of heavy-tailed distributions which includes the lognormal one

V. J. García, E. Gómez-Déniz and F. J. Vázquez-Polo

Communications in Statistics - Theory and Methods, 2016, vol. 45, issue 7, 2023-2044

Abstract: A new class of heavy-tailed distribution functions,, containing the lognormal distribution as a particular case is introduced. The class thus obtained depends on a set of three parameters, incorporating an additional distribution to the classical lognormal one. This new class of heavy-tailed distribution is presented as an alternative to other useful heavy-tailed distributions, such as the lognormal, Weibull, and Pareto distributions. The density and distribution functions of this new class are given by a closed expression which allows us to easily compute probabilities, quantiles, moments, and related measurements. Finally, some applications are shown as examples.

Date: 2016
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DOI: 10.1080/03610926.2013.873132

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