A Stochastic Diffusion Model of Lorenz Curve with a Birth-and-Death Diffusion and General External Effect Processes

Authors

  • Mohammad Zainal Department of Information Systems and Operations Management Kuwait University, College of Business Administration Sabah Al Salem University City, Kuwait.
  • Basel Al-Eideh Department of Information Systems and Operations Management Kuwait University, College of Business Administration Sabah Al Salem University City, Kuwait.

DOI:

https://doi.org/10.1285/i20705948v14n2p417

Keywords:

Lorenz Curve, Birth-Death Diffusion Process, General External Effect, Gini-Index.

Abstract

The Lorenz curve has been used as an essential instrument in the studies of inequality of wealth and income distributions. It was further devised as an inequality research tool in many disciplines. A stochastic Lorenz Curve model is considered with a birth-and-death diffusion and general external effect processes in this paper. Also, the corresponding Stochastic Diffusion Gini-Index is obtained. The suggested functional form attains the properties of the Lorenz curve and works nicely, as shown in the numerical example.

Author Biographies

Mohammad Zainal, Department of Information Systems and Operations Management Kuwait University, College of Business Administration Sabah Al Salem University City, Kuwait.

Mohammad Zainal is an Associate Professor of Applied Statistics at the College of Business Administration, Kuwait University teaching Business Statistics and Computer Courses. He is also the current Acting Dean of the College, the Chair of the Board of Trustees at the Center of Excellence in Management, and the Associate Dean for Academic Affairs, Research & Graduate Studies.

Mohammad has published in the Journal of Economic Studies, Journal of Statistical Science and Application, Istanbul University Journal of the School of Business, Association for the Advancement of Modelling & Simulation, International Journal of Thoracic and Cardiovascular Surgery, Asian Pacific Journal of Allergy & Immunology, Journal of Clinical immunology, and The International Academy of Business and Public Administration Disciplines. His research interests include, Parametric Estimation in the Skew-Symmetric Distributions, Optimization in High Dimensions, Goodness-of-Fit and Nonparametric Estimation, and the Application of Computer Methodologies to facilitate “Real-World” Solutions to Complex Business Problems.

Basel Al-Eideh, Department of Information Systems and Operations Management Kuwait University, College of Business Administration Sabah Al Salem University City, Kuwait.

Basel M. Al-Eideh was born in Jordan in 1962. He earned his  Ph.D. in Statistics from Colorado State University, USA in 1992; Master of Science Degree in Statistics from Yarmouk University, Irbid, Jordan in 1987 and Bachelor of Science Degree in Statistics from Yarmouk University, Irbid, Jordan in 1984.
He is an Associate Professor, Kuwait University (2000-Present); Associate Professor, King Saud University (1998-2000); Assistant Professor, Jordan University of Science and Technology (1992-1998). He presides as Professor of Statistics at Kuwait University.  Of Jordanian nationality, he communicates proficiently in Arabic and English.  Specializing in Applied Probability and Stochastic Processes, and in Operations Research, he conducts research in mathematical models for population growth, stochastic processes and their applications, statistical inference for stochastic processes (SP), and time series modeling and applications.  Among his many achievements, he designed scientific research and studies, constructed and analyzed a statistical questionnaire, served as local Chairman for the International Conference in Business, Decision, and Technology in 2002, participating in more than 30 International Refereed Conferences and performed statistical analysis.  He acts as a consultant for researchers and trainer in more than 40 programs and workshops with the university, banks, ministries, and businesses, and serves on the Editorial Board of more than 7 International Scientific Journal in USA, Franc and Bulgaria as well as chairing sessions and member in the scientific committee of different international conferences in many countries.  Additionally, he referees and reviews more than 60 journal papers in Kuwait, Jordan, Bulgaria, Malaysia, Japan, USA, Canada, Spain and France as well as different conference papers in many countries.  An acclaimed expert, he has authored or co-authored five books:  Criminal Statistics (Published in Arabic by Ministry of Interior, Kuwait, 2002), Designing Skills for Scientific Researches and Its Statistical Analysis Using SPSS Software (Published in Arabic by Authorship Translation and Publication Committee, Kuwait University, Kuwait, 2005), Statistical Methods for Business Data Analysis Using SPSS (Published in English by Sholars-Press: OmniScriptum GmbH & Co. KG, Saarbrucken, Germany, 2016), A Review of Statistical Inference problems on Markov Processes (soon to be published in English), and Introduction to Finite Markov Chains (soon to be published in Arabic).  A prolific writer, his scholarly papers have appeared in numerous peer-reviewed journals (more than 70 research papers).  He says that in the future, he will continue to provide instruction, to conduct research, and to serve his community.  He intends to write more books and looks forward to chairing an international conference.
Dr. Al-Eideh honored in Athens Institute for Education and Research, Greece, AMSE Association, France, Scientific Committee;  Indian Academy of Mathematics, India;  Arab Statistical Union, Egypt; Jordan Assoc. of Mathematical Sciences, Jordan;  Educational Development Council of Al-Korah Directorate;  numerous committees. He is a recipient of the Shoman Prize for Young Arab Scientists in Mathematical Sciences in 1995.
Address: Kuwait City, Al Asimah, Kuwait

References

No

Name

Email

Field / Dept

Dr. Anwar AlShriaan

dr.alshriaan@ku.edu.kw

Econometrician

Dr. Mohammad Alawin

MOHAMMAD.ALAWIN@ku.edu.kw

Econometrician

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Published

20-11-2021

Issue

Vol. 14 No. 2 (2021): Electronic Journal of Applied Statistical Analysis

Section

Original Paper

License

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