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Abstract
The Pareto distribution is an important distribution in statistics, which has been widely used in finance, physics, hydrology, geology, astronomy, and so on. Even though the parameter estimation for the Pareto distribution has been well established in the literature, the estimation problem for the truncated Pareto distribution becomes complex. This article investigates the bias and mean-squared error of the maximum-likelihood estimation for the truncated Pareto distribution, and some useful results are obtained.
Acknowledgements
This research is partially supported by the Natural Science Foundation of China (NSFC, Grant No. 10871167, 1161054). The author would like to thank anonymous referees for their helpful corrections, comments, and suggestions, which significantly improved the presentation of this article.