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Record W3123715184

Robust estimation of the Pareto index: A Monte Carlo Analysis

2013· preprint· en· W3123715184 on OpenAlexaboutno aff
Michał Brzeziński

Bibliographic record

VenueRePEc: Research Papers in Economics · 2013
Typepreprint
Languageen
FieldMathematics
TopicAdvanced Statistical Methods and Models
Canadian institutionsnot available
Fundersnot available
KeywordsEstimatorOutlierStatisticsPareto distributionPareto principleMathematicsMonte Carlo methodRobust statisticsPareto interpolationEconometricsM-estimatorGeneralized Pareto distributionExtreme value theory
DOInot available

Abstract

fetched live from OpenAlex

The Pareto distribution is often used in many areas of economics to model the right tail of heavy-tailed distributions. However, the standard method of estimating the shape parameter (the Pareto index) of this distribution– the maximum likelihood estimator (MLE) – is non-robust, in the sense that it is very sensitive to extreme observations, data contamination or model deviation. In recent years, a number of robust estimators for the Pareto index have been proposed, which correct the deficiency of the MLE. However, little is known about the performance of these estimators in small-sample setting, which often occurs in practice. This paper investigates the small-sample properties of the most popular robust estimators for the Pareto index, including the optimal B-robust estimator (OBRE) (Victoria-Feser and Ronchetti, 1994, The Canadian Journal of Statistics 22: 247–258), the weighted maximum likelihood estimator (WMLE) (Dupuis and Victoria-Feser, 2006, Canadian Journal of Statistics 34: 639–658), the generalized median estimator (GME) (Brazauskas and Serfling, 2001a, Extremes 3, 231–249), the partial density component estimator (PDCE) (Vandewalle et al., 2007, Computational Statistics & Data Analysis 51: 6252–6268), and the probability integral transform statistic estimator (PITSE) (Finkelstein et al., 2006, North American Actuarial Journal 10, 1–10). Monte Carlo simulations show that the PITSE offers the desired compromise between ease of use and power to protect against outliers in the small-sample setting.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.011
metaresearch head score (Gemma)0.043
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Simulation or modeling · Consensus signal: Simulation or modeling
GenreCandidate signal: Methods · Consensus signal: Methods
Teacher disagreement score0.011
Threshold uncertainty score0.060

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0110.043
Meta-epidemiology (narrow)0.0010.001
Meta-epidemiology (broad)0.0020.002
Bibliometrics0.0030.002
Science and technology studies0.0010.002
Scholarly communication0.0020.004
Open science0.0020.002
Research integrity0.0020.003
Insufficient payload (model declined to judge)0.0040.001

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.147
GPT teacher head0.425
Teacher spread0.278 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designSimulation or modeling
Domainnot available
GenreMethods

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2013
Admission routes1
Has abstractyes

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