I'm using J. Nolan's free stable.exe program to fit the pareto-levy stable model to some income data. This is option 3 "fit a bivariate sample" in the program.
In the instruction text file it is said that after selecting option 3 and uploading the data (data = a text file containing a single column of numbers--the income levels at each centile):
"Some descriptive statistics will be displayed and you will be prompted for what kind of fit you want. The options are maximum likelihood fit, quantile fit of McCulloch, sample characteristic method of Koutrovelis-Kogon-Williams, user supplied parameters, and normal fit."
The instructions also mention that I will be prompted for a number of other things, like the search method and the bounds of the four parameters.
None of this happens when I do it. After uploading my data What I get is a line saying the number of values read from the data file ("14 data vectors read" for eg.), and then a line that says "Projection direction: 0-360 degrees"
My first question is: What the heck does "Projection direction: 0-360 degrees" mean? No mention of this in the instructions.
Secondly, I enter an angle, say 90 degrees, and then get a table of "Projection data" and values for the four parameters (alpha, beta, gamma, delta) in three categories: S0 parameters, S parameters, and S* parameters. Are these the fitted values of the parameters? And what do these three different categories mean?
There are some other things bewildering me but I'll start with this.