An Unbiased Estimator for the Parameter of a Homographic Distribution Used in Economy

Poliana Stefanescu () and Stefan Stefanescu
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Poliana Stefanescu: Associate Professor, Ph.D., Faculty of Sociology and Social Work, University of Bucharest

Journal for Economic Forecasting, 2006, vol. 3, issue 2, 47-57

Abstract: In a previous study, (Stefanescu, P., Stefanescu, St., 2006) we suggested two possible estimators for the unknown value of the parameter q which characterize a homographic type HG(q) distribution. In the current paper we shall prove that the proposed estimators of q based on the median of the r.v. X, X ~ HG(q) , always over- evaluate the real value of q . For this reason we determined an adjusted multiplicative factor such that the median type estimators to become unbiased. The theoretical results were confirmed experimentally by using a Monte Carlo stochastic simulation technique.

Keywords: homographic distribution; unbiased estimator; Monte Carlo technique; generating random variables. (search for similar items in EconPapers)
JEL-codes: C13 C15 (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v:3:y:2006:i:2:p:47-57

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