气候变化领域集成服务门户(CCPortal): Parameter estimation of the Pareto distribution using least squares approaches blended with different rank methods and its applications in modeling natural catastrophes

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DOI	10.1007/s11069-021-04654-4
	Parameter estimation of the Pareto distribution using least squares approaches blended with different rank methods and its applications in modeling natural catastrophes
	Hussain S.; Bhatti S.H.; Ahmad T.; Shehzad M.A.
发表日期	2021
ISSN	0921030X
起始页码	1693
结束页码	1708
卷号	107 期号:2
英文摘要	The current article evaluates least-squares-based approaches for estimating parameters of the two-parameter Pareto distribution. The algebraic expressions for least squares (LS), relative least squares (RLS) and weighted least squares (WLS) estimators are derived by generating empirical cumulative distribution function (CDF) using mean rank, median rank and symmetrical CDF methods. The performance of the estimation approaches is evaluated through Monte Carlo simulations for different combinations of parameter values and sample sizes. The performance of the regression-based methods is then compared with one another and with the traditional maximum likelihood (ML) estimation method. Our simulation results unveil that among the regression-based methods, RLS has an improved or better performance compared to the other two regression-based approaches for samples of all sizes. Moreover, RLS performs better than the ML method for small samples. Among the rank methods used for generating empirical CDF, it is observed that the mean rank method outperformed other two rank methods. The simulation results are further corroborated by the application of all the methods on two real-life datasets representing damages caused by natural catastrophes. © 2021, The Author(s), under exclusive licence to Springer Nature B.V.
关键词	Estimation Graphical methods Least squares method Modeling natural catastrophes Relative least squares method Weighted least squares method
英文关键词	computer simulation; graphical method; least squares method; maximum likelihood analysis; Monte Carlo analysis; numerical model; parameter estimation
语种	英语
来源期刊	Natural Hazards
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/206287
作者单位	Department of Statistics, Government College University, Dr. Zakir Hussain Block, Allama Iqbal Road, Faisalabad, Pakistan; Department of Statistics, Bahauddin Zakariya University, Multan, Pakistan
推荐引用方式 GB/T 7714	Hussain S.,Bhatti S.H.,Ahmad T.,et al. Parameter estimation of the Pareto distribution using least squares approaches blended with different rank methods and its applications in modeling natural catastrophes[J],2021,107(2).
APA	Hussain S.,Bhatti S.H.,Ahmad T.,&Shehzad M.A..(2021).Parameter estimation of the Pareto distribution using least squares approaches blended with different rank methods and its applications in modeling natural catastrophes.Natural Hazards,107(2).
MLA	Hussain S.,et al."Parameter estimation of the Pareto distribution using least squares approaches blended with different rank methods and its applications in modeling natural catastrophes".Natural Hazards 107.2(2021).