PARETO EXTRAPOLATION USING GROUPED INCOME DATA*

ABSTRACT. The distribution of above-median income groups can be described accurately by OLS regression of the Pareto distribution. The excellent fit of log-linear regression has led some researchers to conclude that extrapolated income measures in the open end of the distribution are reliable. The analysis of income distribution data for metropolitan areas reveals: (1) that OLS tends to consistently overestimate the number of families in the tail, and (2) that the overestimation can have serious implications for hypothesis testing.     

LOCATION AND MARKET POWER HOTELLING REVISITED*

ABSTRACT This paper analyzes the determination of industry structure in a product market, given a monopolistic factor market. The characteristics of industry structure examined include the number of firms, their pricing and locational pattern. It is shown how a monopolistic factor owner–a landowner–structures the product market in order to extract maximum rent. Asymmetry characterizes the resulting locational pattern. All the product market firms charge different prices in equilibrium. No matter how large the number of firms competing in the product market, the landowner can always guarantee himself positive profits. The paper concludes with a discussion of possible applications and tests of the theory.     

Contribution to the geology of Failaka Island,Kuwait: Evidence from sedimentological and petrographic data from the NE part of the island

Kuwait–Georgian archaeological work at Failaka Island showed the need for geological study. Analysis of sediments related to drinking water-collecting cisterns was performed on a Late Islamic settlement (NE part of the island) in 2018. Field sedimentological, grain size and XRD analysis of the sediment profiles showed that the shallow (about 1 m deep) cone-shaped wells are dug in the loose, porous, cross-stratified calcareous coarse-grained quartz sandstones. Three upper layers of quartz sandstones in the profile have high infiltration rate and provide a rare yet ideal material for water retention. The fourth dense layer below, composed of very fine sand and silt fraction, tends to hinder water movement and forms a relatively impermeable water-resistant surface. Thus, the distribution patterns of clay content, grain sizes and porosity of the well-hosting sediments are favourable for freshwater infiltration and harvesting. An additional petrographic analysis was conducted on different types of rocks discovered on the archaeological site, used as building material and fragments of stone artifacts to identify their origin. It was established that archaeological building material is of local origin, whereas the source rocks for stone artifacts were imported.