Objective Bayesian Analysis for the Lomax Distribution
Methodology
2016-02-29 v1
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.
Keywords
Cite
@article{arxiv.1602.08450,
title = {Objective Bayesian Analysis for the Lomax Distribution},
author = {Paulo Ferreira and Jhon Gonzales and Vera Tomazella and Ricardo Ehlers and Francisco Louzada and Eveliny Silva},
journal= {arXiv preprint arXiv:1602.08450},
year = {2016}
}