Objective Bayesian Analysis for the Lomax Distribution

2016/02/26 by Ferreira, Paulo, Gonzales, Jhon, Tomazella, Vera +3
#FOS: Computer and information sciences #Methodology (stat.ME)

paper · doi:10.48550/arxiv.1602.08450

Abstract

In this paper we propose to make Bayesian inferences for the parameters of the Lomax distribution using non-informative priors, namely the Jeffreys prior and the reference prior. We assess Bayesian estimation through a Monte Carlo study with 500 simulated data sets. To evaluate the possible impact of prior specification on estimation, two criteria were considered: the bias and square root of the mean square error. The developed procedures are illustrated on a real data set.

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