4 Ways to Measure Fat Tails with Python (+ Example Code)

This is the 3rd video in a series about Power Laws and Fat Tails. In this video, I break down 4 ways we can quantify fat tails and share Python code analyzing real-world data.
📹 Series Intro: • Pareto, Power Laws, an...
📹 Previous video: • Detecting Power Laws i...
📰 Read more: medium.com/towards-data-scien...
💻 GitHub Repo: github.com/ShawhinT/UA-cam-B...
References
[1] Scipy Kurtosis: docs.scipy.org/doc/scipy/refe...
[2] Scipy Moment: docs.scipy.org/doc/scipy/refe...
[3] arXiv:1802.05495 [stat.ME]
[4] en.wikipedia.org/wiki/Log-nor...
[5] Pham-Gia, T., & Hung, T. (2001). The mean and median absolute deviations. Mathematical and Computer Modelling, 34(7-8), 921-936. doi.org/10.1016/S0895-7177(01...
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Intro - 0:00
Fat Tails - 0:45
4 Ways to Quantify Fat Tails - 2:02
Heuristic 1: Power Law Tail Index - 2:32
Heuristic 2: Kurtosis - 3:50
Heuristic 3: Log-normal's σ - 5:29
Heuristic 4: Taleb's κ - 7:04
Example Code: Quantifying Fat Tails in Social Media - 11:44
What's next? - 22:29

[@ShawhinTalebi]

📰Read more: medium.com/towards-data-science/4-ways-to-quantify-fat-tails-with-python-10ce62c0ada1?sk=3aa9397cdd9f8acbd0fdf40d90c2cba5
💻Example code: github.com/ShawhinT/UA-cam-Blog/tree/main/power-laws/3-quantifying-fat-tails

[@AnimeshSharma1977]

great as usual! fat tail analysis sounds very much like analysis of scale-free networks!

[@ShawhinTalebi]

Thanks! Glad you liked it :)
That's not surprising. Mark E. J. Newman who wrote book on Networks is a co-author on the paper for the powerlaw library used here.

[@ifycadeau]

Such a good explanation! Thank you Shaw!

[@ShawhinTalebi]

Glad it was helpful!

[@chrstfer2452]

Audios a bit quiet on this one. This series is great though, thanks shaw

[@ShawhinTalebi]

Sorry about that, I guess I rushed this one a bit 😅