The generalized 20/80 law using probabilistic fractals applied to petroleum field size
Nonrenewable Resources
By: R. A. Crovelli
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Abstract
Fractal properties of the Pareto probability distribution are used to generalize "the 20/80 law." The 20/80 law is a heuristic law that has evolved over the years into the following rule of thumb for many populations: 20 percent of the population accounts for 80 percent of the total value. The general p100/q100 law in probabilistic form is defined with q as a function of p, where p is the population proportion and q is the proportion of total value. Using the Pareto distribution, the p100/q100 law in fractal form is derived with the parameter q being a fractal, where q unexpectedly possesses the scale invariance property. The 20/80 law is a special case of the p100/q100 law in fractal form. The p100/q100 law in fractal form is applied to petroleum fieldsize data to obtain p and q such that p100% of the oil fields greater than any specified scale or size in a geologic play account for q100% of the total oil of the fields. The theoretical percentages of total resources of oil using the fractal q are extremely close to the empirical percentages from the data using the statistic q. Also, the empirical scale invariance property of the statistic q for the petroleum fieldsize data is in excellent agreement with the theoretical scale invariance property of the fractal q. ?? 1995 Oxford University Press.
Suggested Citation
Crovelli, R., 1995, The generalized 20/80 law using probabilistic fractals applied to petroleum field size: Nonrenewable Resources, v. 4, no. 3, p. 233-241, https://doi.org/10.1007/BF02257575.
| Publication type | Article |
|---|---|
| Publication Subtype | Journal Article |
| Title | The generalized 20/80 law using probabilistic fractals applied to petroleum field size |
| Series title | Nonrenewable Resources |
| DOI | 10.1007/BF02257575 |
| Volume | 4 |
| Issue | 3 |
| Year Published | 1995 |
| Language | English |
| Publisher location | Kluwer Academic Publishers |
| Larger Work Type | Article |
| Larger Work Subtype | Journal Article |
| Larger Work Title | Nonrenewable Resources |
| First page | 233 |
| Last page | 241 |