Approximating Heavy-Tailed Distributions with a Mixture of Bernstein Phase-Type and Hyperexponential Models

arXiv — stat.MLFriday, October 31, 2025 at 4:00:00 AM
A recent study explores the use of Bernstein phase-type and hyperexponential models to better approximate heavy-tailed distributions, which are crucial in fields like finance and telecommunications. These distributions are notoriously difficult to model due to their slow tail decay, but the proposed mixture offers a promising solution. This advancement could significantly enhance the accuracy of models used in various real-world applications, making it an important development for researchers and practitioners alike.
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