A survey of a hurdle model for heavy-tailed data based on the generalized lambda distribution

6 Dec 2017Diego MarcondesCláudia PeixotoAna Carolina Maia

In this survey we present an extensive research of the vast literature about the Generalized Lambda Distribution (GLD) and propose a hurdle, or two-way, model whose associated distribution is the GLD in order to meet the demand for a highly flexible model of heavy-tailed data with excess of zeros. We apply the developed models to a dataset consisting of yearly healthcare expenses, a typical example of heavy-tailed data with excess of zeros... (read more)

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