On the Approximation of Pareto Distribution to Exponential Distribution Using the Gini Coefficient of Inequality
| dc.contributor.author | Yahya, W. B. | |
| dc.contributor.author | Garba, M. K. | |
| dc.contributor.author | Amidu, L. | |
| dc.contributor.author | Olorede, K. O. | |
| dc.contributor.author | Gatta, N. F. | |
| dc.contributor.author | Amusa, L. B. | |
| dc.date.accessioned | 2020-02-10T12:13:37Z | |
| dc.date.available | 2020-02-10T12:13:37Z | |
| dc.date.issued | 2017 | |
| dc.description.abstract | Pareto proposed that income and wealth distribution obeys a universal power law valid for all times and countries, but subsequent studies have often disputed this position. Some even argued there is indeed no Pareto Law and that it should be entirely discarded in studies on distribution of wealth or resources. Many other probability distributions have been proposed such as log normal, exponential, gamma and two other forms by Pareto himself. Using data on imported goods from the National Bureau of Statistics as a case of distribution of wealth in Nigeria, we demonstrated that the distribution of money spent on importation in Nigeria also follow exponential distribution using the Gini coefficient which is a measure of inequality (degree of concentration) of a variable in the distribution of resources. Simulation studies were carried out at different sizes of items (or households) and varying values of the shape parameter and we compare how close the Gini coefficients of the exponential distribution approximate those obtained from the Pareto data as a credible alternative to Pareto distribution. | en_US |
| dc.identifier.uri | http://hdl.handle.net/123456789/3648 | |
| dc.language.iso | en | en_US |
| dc.publisher | Edited Conference Proceedings of the 1st International Conference of the Nigeria Statistical Society (NSS). | en_US |
| dc.subject | Pareto distribution, | en_US |
| dc.subject | Gini coefficient, | en_US |
| dc.subject | Exponential distribution. | en_US |
| dc.subject | Lorenz curve, | en_US |
| dc.title | On the Approximation of Pareto Distribution to Exponential Distribution Using the Gini Coefficient of Inequality | en_US |
| dc.type | Article | en_US |