Bayesian Estimation of Scale Parameter of Pareto Type-I Distribution by Two Different Methods

Authors

  • Parul Setiya Department of Statistics, Kumaun University, Nainital, India
  • Vinod Kumar Department of Mathematics, Statistics and Computer Science, Nainital, G. B. Pant Univ. of Ag.& Tech., Pantnagar, India
  • M. K. Pande Department of Statistics, Kumaun University, Nainital, India

Keywords:

Bayes estimator, maximum likelihood estimator, prior, scale parameter, squared error

Abstract

Bayesian estimators of the scale parameter of Pareto type I model have been obtained by direct method and Lindley’s approach. Further, the expressions for posterior expected loss under squared error loss function (SELF) and asymmetric precautionary loss function (APLF) are obtained. The calculations have been illustrated with the help of numerical example.

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Published

2016-01-25

How to Cite

Setiya, P., Kumar, V., & Pande, M. K. (2016). Bayesian Estimation of Scale Parameter of Pareto Type-I Distribution by Two Different Methods. Thailand Statistician, 14(1), 47–62. Retrieved from https://ph02.tci-thaijo.org/index.php/thaistat/article/view/47313

Issue

Vol. 14 No. 1 (2016): January

Section

Articles