A New Class of Heavy-Tailed Distributions: Modeling and Simulating Actuarial Measures

Table 1

Monte Carlo simulation results of the HTBPT–Weibull distribution.

Set 1: , ,
	Parameters	MLE	MSEs	Biases
25		0.735	0.057	−0.164
		2.588	3.611	1.388
		2.049	0.552	0.549
100		0.811	0.021	−0.088
		1.684	0.571	0.484
		1.702	0.104	0.202
200		0.844	0.010	−0.055
		1.469	0.187	0.269
		1.622	0.043	0.122
300		0.858	0.006	−0.041
		1.397	0.112	0.197
		1.590	0.028	0.090
400		0.866	0.005	−0.033
		1.348	0.073	0.148
		1.569	0.019	0.069
500		0.874	0.003	−0.025
		1.313	0.052	0.113
		1.553	0.015	0.053
600		0.876	0.003	−0.023
		1.305	0.046	0.105
		1.552	0.013	0.052
700		0.880	0.003	−0.019
		1.289	0.040	0.089
		1.539	0.011	0.039
800		0.882	0.002	−0.017
		1.272	0.032	0.072
		1.535	0.009	0.035
900		0.884	0.002	−0.015
		1.271	0.029	0.071
		1.535	0.008	0.035
1000		0.886	0.002	−0.013
		1.260	0.024	0.060
		1.529	0.007	0.029