The generalized t-distribution, a generalization to the positive tail of the t distribution

The purpose of this paper is to introduce a distribution, which is a generalization of the positive tail of the standardized t distribution, called the Generalized t distribution. The t distribution is a well-known Pareto-type distribution which is considered in situations where the data indicates heavy or extreme tails. In some cases, as we show in this paper, it is questioned whether the tail of the t distribution is not too heavy or too light for a specific dataset. We suggest using the Generalized t distribution as an alternative distribution to model the right hand side tail in cases where the tail of the t distribution is too heavy or too light.