Related papers: Are your data really Pareto distributed?
Missing data has the potential to affect analyses conducted in all fields of scientific study, including healthcare, economics, and the social sciences. Several approaches to unbiased inference in the presence of non-ignorable missingness…
This paper considers ideal gas-like models of trading markets, where each agent is identified as a gas molecule that interacts with others trading in elastic or money-conservative collisions. Traditionally, these models introduce different…
Our primary aim is to find an estimate of the expected shortfall in various situations: (1) Nonparametric situation, when the probability distribution of the incurred loss is unknown, only satisfying some general conditions. Then, following…
In extreme value statistics, the peaks-over-threshold method is widely used. The method is based on the generalized Pareto distribution characterizing probabilities of exceedances over high thresholds in $\mathbb {R}^d$. We present a…
Power laws are a characteristic distribution that are ubiquitous, in that they are found almost everywhere, in both natural as well as in man-made systems. They tend to emerge in large, connected and self-organizing systems, for example,…
A model of distribution of the wealth in a society based on the properties of complex networks has been proposed. The wealth is interpreted as a consequence of communication possibilities and proportional to the number of connections…
In order to study the phenomenon in detail that income distribution follows Pareto law, we analyze the database of high income companies in Japan. We find a quantitative relation between the average capital of the companies and the Pareto…
Conditional independence, graphical models and sparsity are key notions for parsimonious statistical models and for understanding the structural relationships in the data. The theory of multivariate and spatial extremes describes the risk…
Power law cumulative frequency $(P)$ vs. event size $(l)$ distributions $P(\geq l)\sim l^{-\alpha}$ are frequently cited as evidence for complexity and serve as a starting point for linking theoretical models and mechanisms with observed…
There is no agreement over which statistical distribution is most appropriate for modelling citation count data. This is important because if one distribution is accepted then the relative merits of different citation-based indicators, such…
Critical states are sometimes identified experimentally through power-law statistics or universal scaling functions. We show here that such features naturally emerge from networks in self-sustained irregular regimes away from criticality.…
Power-law distributions contain precious information about a large variety of processes in geoscience and elsewhere. Although there are sound theoretical grounds for these distributions, the empirical evidence in favor of power laws has…
It was observed that the number of cases and deaths for infectious diseases were associated with heavy-tailed power law distributions such as the Pareto distribution. While Pareto distribution was widely used to model the cases and deaths…
Data visualization is essential for developing an understanding of a complex system. The power grid is one of the most complex systems in the world and effective power grid research visualization software must 1) be easy to use, 2) support…
By using methods of statistical physics, we focus on the quantitative analysis of the economic income data descending from different databases. To explain our approach, we introduce the necessary theoretical background, the extended…
We introduce a non-growth model that generates the power-law distribution with the Zipf exponent. There are N elements, each of which is characterized by a quantity, and at each time step these quantities are redistributed through binary…
Zipf's power law is a general empirical regularity found in many natural and social systems. A recently developed theory predicts that Zipf's law corresponds to systems that are growing according to a maximally sustainable path in the…
The econophysics approach to socio-economic systems is based on the assumption of their complexity. Such assumption inevitably lead to another assumption, namely that underlying interconnections within socio-economic systems, particularly…
Income and wealth distribution affect stability of a society to a large extent and high inequality affects it negatively. Moreover, in the case of developed countries, recently has been proven that inequality is closely related to all…
We study the effects of data sharing between firms on prices, profits, and consumer welfare. Although indiscriminate sharing of consumer data decreases firm profits due to the subsequent increase in competition, selective sharing can be…