On the Mean Residual Life of Cantor-Type Distributions: Properties and Economic Applications

In this paper, we consider the mean residual life (MRL) function of Cantor distribution and study its properties. We show that MRL is continuous at all points, locally decreasing points outside set has a unique fixed point which explicitly determine. These properties readily extend to parametric family p-singular, type distributions introduced by Mandelbrot (1983). The findings offer evidence that, contrary common perceptions, Cantor-type are tractable enough be considered for practical applications. provide such an example from field economics in can used model markets with recurrent bandwagon effects earlier anticipated lead higher monopolistic prices. conclude simple implementation algorithm Chalice (1991) plot distributions.