This is the third article in a series on Power Laws and Fat Tails. In the previous post, we explored how to detect power laws from empirical data. While this technique can be handy, fat tails go beyond simply fitting data to a power law distribution. In this article, I will break down 4 ways we can quantify fat tails and share example Python code analyzing real-world data.
Note: If you are unfamiliar with terms like Power Law distribution or Fat Tail, review this article as a primer.
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