Journal article 1301 views
Polynomial power-Pareto quantile function models
Yuzhi Cai 
Extremes, Volume: 13, Issue: 3, Pages: 291 - 314
Swansea University Author:
Yuzhi Cai
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DOI (Published version): 10.1007/s10687-009-0089-3
Abstract
In this paper we propose a polynomial power-Pareto quantile function model and a Bayesian method for parameters estimation. We also carried out simulation studies and applied our methodology to real data sets empirically. The results show that a quantile function approach to statistical modelling is...
| Published in: | Extremes |
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| ISSN: | 1386-1999 |
| Published: |
Springer
2010
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| Online Access: |
Check full text
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| URI: | https://cronfa.swan.ac.uk/Record/cronfa6998 |
| Abstract: |
In this paper we propose a polynomial power-Pareto quantile function model and a Bayesian method for parameters estimation. We also carried out simulation studies and applied our methodology to real data sets empirically. The results show that a quantile function approach to statistical modelling is very flexible due to the properties of quantile functions, and that the combination of a power and a Pareto distribution enables us to model both the main body and the tails of a distribution, even though the mathematical form of the distribution does not exist. Our research also suggests a new approach to studying extreme values based on a whole data set rather than group maximum/minimum or exceedances above/below a proper threshold value. |
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| Keywords: |
Bayesian methods · Quantile functions ·, Power-Pareto distribution · Simulation · Speed and stopping distance data ·,Wave and surge data |
| College: |
Faculty of Humanities and Social Sciences |
| Issue: |
3 |
| Start Page: |
291 |
| End Page: |
314 |