Heavy tailed (size) distributions, regular variation, outliers and top incomes. Applications to size distributions, income distributions / top incomes, city size distributions / Zipf's law, and outliers in financial data.
City size distributions are not strictly Pareto, but upper tails are rather Pareto like (i.e. tails are regularly varying). We examine the properties of the tail exponent estimator obtained from ordinary least squares (OLS) rank size regressions …