Heavy-Tailed Probability Distributions: Some Examples of Their Appearance

Lev B. Klebanov (), Yulia V. Kuvaeva-Gudoshnikova and Svetlozar T. Rachev
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Lev B. Klebanov: Department of Probability and Mathematical Statistics, Charles University, 186 75 Prague, Czech Republic
Yulia V. Kuvaeva-Gudoshnikova: Department of Finance, Money Circulation and Credit, Ural State University of Economics, 620144 Yekaterinburg, Russia
Svetlozar T. Rachev: Department of Mathematics and Statistics, Texas Tech University, Lubbock, TX 79409, USA

Mathematics, 2023, vol. 11, issue 14, 1-7

Abstract: We provide two examples of the appearance of heavy-tailed distributions in social sciences applications. Among these distributions are the laws of Pareto and Lotka and some new ones. The examples are illustrated through the construction of suitable toy models.

Keywords: heavy-tailed distributions; Pareto’s law; Lotka’s law; Zipf’s law; probability-generating function (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
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