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The Beaman Distribution
Authors

Fiona Maclachlan
Organization: Manhattan College
Department: Economics & Finance
URL: http://home.manhattan.edu/~fiona.maclachlan/
John E. Reith
Revision date

2006-02-02
Description

A new two-parameter descriptive model for the size distribution of incomes is presented. The Beaman distribution, originally found to describe the relationship between prices and sales volumes of textiles and related products, is shown to fit closely U.S. Census data on individual incomes over the past twenty years. The two parameters of the model represent the minimum and median levels of income. An important advantage of the Beaman distribution over other two-parameter models is that negative incomes can be accounted for.
Subject

*Business and Economics
Keywords

income distribution, non-linear regression, Pareto distribution, gamma distribution, Weibull distribution
URL

http://home.manhattan.edu/%7Efiona.maclachlan/beaman/
http://home.manhattan.edu/~fiona.maclachlan/

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BeamanNotebook.nb (660.1 KB) - Mathematica Notebook [for Mathematica 5.0]