Year: 2025
Type: article
Abstract: This paper presents a comprehensive overview of quantile-parameterized distributions (QPDs) as a tool for capturing expert predictions and parametric judgments. We survey various types of QPDs covered in the literature and focus on the Myerson distribution as the simplest method of parameterizing a distribution by a set of quantile-probability pairs. We propose the generalization of the Myerson distribution to increase the flexibility of its tails. Additionally, we explore the extension of QPDs to the multivariate setting, discussing methods for constructing bivariate distributions with quantile-parameterized margins.
Source: Decision Analysis
Institution: Lund University
Language: English
Subfield: Statistics and Probability
Field: Mathematics
Domain: Physical Sciences
Open Access status: gold
OpenAlex ID: W4409003970