ptsuite

Various estimation methods for the shape parameter of Pareto distributed data. This package contains functions for various estimation methods such as maximum likelihood (Newman, 2005), Hill's estimator (Hill, 1975), least squares (Zaher et al., 2014), method of moments (Rytgaard, 1990), percentiles (Bhatti et al., 2018), and weighted least squares (Nair et al., 2019) to estimate the shape parameter of Pareto distributed data. It also provides both a heuristic method (Hubert et al., 2013) and a goodness of fit test (Gulati and Shapiro, 2008) for testing for Pareto data as well as a method for generating Pareto distributed data.