Objective Bayesian analysis for the Lomax distribution
2020
Abstract In this paper, we propose to make Bayesian inferences for the parameters of the Lomax distribution using non-informative priors, namely the (dependent and independent) Jeffreys prior and the reference prior. We assess Bayesian estimation through a Monte Carlo study with 10,000 simulated datasets. In order to evaluate the possible impact of prior specification on estimation, two criteria were considered: the mean relative error and the mean square error. An application on a real dataset illustrates the developed procedures.
Keywords:
- Correction
- Source
- Cite
- Save
- Machine Reading By IdeaReader
18
References
8
Citations
NaN
KQI