Heavy tailed random variables (rvs) have proven to be an essential element in modeling a wide variety of natural and human-induced processes, and the sums of heavy tailed rvs represent a particularly important construction in such models. Oriented toward both geophysical and statistical audiences, this paper discusses the appearance of the Pareto law in seismology and addresses the problem of t...

The modeling and analysis of lifetimes is an important aspect of statistical work in a wide variety of scientific and technological fields. For the first time the Kum-GEP distribution is introduced and studied. This distribution can have a decreasing and upside-down bathtub failure rate function depending on the value of its parameters; it's including some special sub-model like exponentiated P...

In this paper we show empirical data from Internet traffic measurements. Collected measurements are analyzed for different protocols, such as TCP and UDP. We perform statistical analysis through the correlation coefficients, covariance, and self-similarity degree i.e. Hurst parameter. Our experimental studies captured traffic with Hurst parameter around 0.7-0.75, which is near half way between ...

This paper constructs a Bewley model, a dynamic general equilibrium model of heterogeneous households with production, which accounts for the Pareto distributions of income and wealth. We emphasize the role played by concavity of the consumption function in generating the Pareto distribution. We show that the Pareto distribution is obtained when households face idiosyncratic investment shocks o...

The higher-end tail of the wealth distribution in India is studied using recently published lists of the wealth of richest Indians between the years 2002-4. The resulting rank distribution seems to imply a power-law tail for the wealth distribution, with a Pareto exponent between 0.81 and 0.92 (depending on the year under analysis). This provides a comparison with previous studies of wealth dis...

This paper studies the design of a strategy-proof resource allocation rule in economies with perfectly divisible multiple commodities and single-peaked preferences. It is known that the uniform rule is the unique allocation rule satisfying strategy-proofness, Pareto efficiency, and anonymity if the number of commodity is only one and preferences are single-peaked (Sprumont (1991)). However, if ...

So far the focus of almost all multior many-objective performance metrics has been the convergence and distribution of solutions in the objective space (Pareto-surface). Pareto-surface metrics such as IGD, HV, and Spread are simple and provide knowledge about the overall performance of the solution set. However, these measures do not provide any insight into the distribution or spread of a solu...

We generalize a recent study of random space-filling bearings to a more realistic situation, where the spacing offset varies randomly during the space-filling procedure, and show that it reproduces well the size distributions observed in recent studies of real fault gouges. In particular, we show that the fractal dimensions of random polydisperse bearings sweep predominantly the low range of va...

To measure uncertainties of site-specific extreme loads for a signature bridge, probabilistic method is developed based on structural health monitoring data in the Bayesian context. Compared with respective design loads, probability predicted load exceeding one used to determine whether sufficient. The generalized Pareto distribution was first employed model value information. Then, estimation ...

This paper discusses an imperfect preventive maintenance model for a deteriorating repairable system with consideration of the reliability limitand random maintenance quality. The model is derived from the combination of failure rate adjustment and age over an infinite time horizon. The maintenance intervals are obtained assuming both the failure rate increase factor and age restoration factor ...