Some common and dynamic properties of logarithmic Pareto distribution with applications

The Pareto distribution satisfies the power law, which is widely used in physics, biology, earth and plane-tary sciences, economics, finance, computer science, and many other fields. In this article, the logarithmic Pareto distribution, a logarithmic transformation of the Pareto distribution, is presented and studied. The moments, per-centiles, skewness, kurtosis, and some dynamic measures such as hazard rate, mean residual life, and quantile resi-dual life are discussed. The parameters were estimated by quantile and maximum likelihood methods. A simulation study was conducted to investigate the efficiency, consis-tency, and behavior of the maximum likelihood estimator. Finally, the proposed distribution was fitted to some data-sets to show its usefulness.