Pareto distribution

E382868

The Pareto distribution is a power-law probability distribution often used to model phenomena with heavy tails and strong inequality, such as wealth or city sizes.

All labels observed (4)

Label Occurrences
Pareto distribution canonical 7
Lomax distribution 1
Pareto law 1

How this entity was disambiguated

Statements (48)

Predicate Object
instanceOf continuous probability distribution ⓘ
heavy-tailed distribution ⓘ
power-law distribution ⓘ
probability distribution ⓘ
belongsToFamily one-parameter shape families ⓘ
scale distributions ⓘ
belongsToField econometrics ⓘ
probability theory ⓘ
statistical physics ⓘ
statistics ⓘ
cumulativeDistributionFunction F(x) = 1 - (x_m / x)^α for x ≥ x_m ⓘ
hasApplication actuarial science ⓘ
network traffic modeling ⓘ
risk management ⓘ
hasParameter scale parameter xm ⓘ
shape parameter alpha ⓘ
hasProperty infinite higher moments for small α ⓘ
scale invariant tail ⓘ
inequalityMeasure generates high Gini coefficients for small α ⓘ
isHeavyTailed true ⓘ
kurtosis high for small α ⓘ
logTransform log X has shifted exponential distribution ⓘ
mean E[X] = α x_m / (α - 1) for α > 1 ⓘ
meanExistsIf α > 1 ⓘ
median x_m 2^{1/α} ⓘ
mode x_m ⓘ
namedAfter Vilfredo Pareto ⓘ
parameterConstraint x_m > 0 ⓘ
α > 0 ⓘ
probabilityDensityFunction f(x) = α x_m^α / x^{α+1} for x ≥ x_m ⓘ
relatedConcept 80-20 rule ⓘ
Pareto principle ⓘ
relatedDistribution Lomax distribution ⓘ
linked to: Pareto distribution

generalized Pareto distribution ⓘ
power law ⓘ
skewness positive ⓘ
support x ≥ xm > 0 ⓘ
survivalFunction S(x) = (x_m / x)^α for x ≥ x_m ⓘ
tailBehavior P(X > x) ∝ x^{-α} ⓘ
type univariate distribution ⓘ
usedToModel city sizes ⓘ
file sizes in computer systems ⓘ
income distribution upper tail ⓘ
insurance claim sizes ⓘ
sizes of human settlements ⓘ
wealth distribution ⓘ
variance Var(X) = α x_m^2 / ((α - 1)^2 (α - 2)) for α > 2 ⓘ
varianceExistsIf α > 2 ⓘ

How these facts were elicited

Referenced by (10)

Full triples — surface form annotated when it differs from this entity's canonical label.

Vilfredo Pareto → knownFor → Pareto distribution ⓘ
George K. Zipf → knownFor → Zipf's law ⓘ
linked to: Pareto distribution
Vilfredo Pareto → knownFor → Pareto distribution ⓘ
subject linked to: Pareto
Pareto → hasDerivedConcept → Pareto distribution ⓘ
Pareto principle → relatedConcept → Pareto distribution ⓘ
Pareto distribution → relatedDistribution → Lomax distribution ⓘ
linked to: Pareto distribution
Manual of Political Economy → subject → Pareto distribution ⓘ
Manual of Political Economy → hasConcept → Pareto law ⓘ
linked to: Pareto distribution
Zipf's law → relatedTo → Pareto distribution ⓘ