A family of bivariate Pareto distributions

P. G. Sankaran (), N. Unnikrishnan Nair () and Preethi John ()
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P. G. Sankaran: Cochin University of Science and Technology - India
N. Unnikrishnan Nair: Cochin University of Science and Technology - India
Preethi John: Cochin University of Science and Technology - India

Statistica, 2014, vol. 74, issue 2, 199-215

Abstract: Pareto distributions have been extensively used in literature for modelling and analysis of income and lifetime data. In the present paper, we introduce a family of bivariate Pareto distributions using a generalized version of dullness property. Some important bivariate Pareto distributions are derived as special cases. Distributional properties of the family are studied. The dependency structure of the family is investigated. Finally, the family of distributions is applied to two real life data situation.

Keywords: bivariate Pareto distribution; correlation coefficient; association measures; dullness property (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:bot:rivsta:v:74:y:2014:i:2:p:199-215

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