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Bayesian Analysis of Lomax Distribution under Asymmetric Loss Functions |
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PP: 35-44 |
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Author(s) |
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Afaq Ahmad,
S. P. Ahmad,
A. Ahmed,
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Abstract |
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| In the present paper, a two parametric Lomax distribution is considered for Bayesian analysis. The estimation of
the shape parameter of Lomax distribution is obtained by employing the classical and Bayesian paradigm. Bayes’
estimators are obtained by using extension of Jeffrey’s prior and Gamma prior under Entropy loss function and
Precautionary loss function. Maximum likelihood estimation is also discussed. These methods are compared by using mean
square error through simulation study with varying sample sizes. |
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