| Probability models with heavy tails are used in finance, physics, hydrology, electrical engineering and computer science. There are currently many estimators of the tail index alpha, but few are both shift and scale invarient. In this thesis we will look at two modifications to the Meerschaert-Scheffler estimator that make it both scale and shift invariant, and compare it to a current shift and scale invarient estimator, the Shifted Hill's estimator. |
