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Bayesian Estimation of the Scale Parameter of Inverse Weibull Distribution under the Asymmetric Loss Functions

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  • Farhad Yahgmaei
  • Manoochehr Babanezhad
  • Omid S. Moghadam

Abstract

This paper proposes different methods of estimating the scale parameter in the inverse Weibull distribution (IWD). Specifically, the maximum likelihood estimator of the scale parameter in IWD is introduced. We then derived the Bayes estimators for the scale parameter in IWD by considering quasi, gamma, and uniform priors distributions under the square error, entropy, and precautionary loss functions. Finally, the different proposed estimators have been compared by the extensive simulation studies in corresponding the mean square errors and the evolution of risk functions.

Suggested Citation

  • Farhad Yahgmaei & Manoochehr Babanezhad & Omid S. Moghadam, 2013. "Bayesian Estimation of the Scale Parameter of Inverse Weibull Distribution under the Asymmetric Loss Functions," Journal of Probability and Statistics, Hindawi, vol. 2013, pages 1-8, June.
    • Handle: RePEc:hin:jnljps:890914
    DOI: 10.1155/2013/890914
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