Bayesian Analysis of Household Income Distribution
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Farzad Eskandari *, Roghieh Ghobadi |
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Abstract: (3505 Views) |
Study of the parameters of Pareto distribution by various statistician examined. However, in most of these studies, a frequentist method is used. The aim of this article is the use of appropriate prior distributions for parameters of Pareto distribution and estimating the parameters via a Bayesian approach. We choose two conjugate priors for parameters and estimate them. Then, we compute variance of estimators and compare them with a frequentists approach. Finally, we compare our results with those of a frequentists method for analysing a real data set. |
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Keywords: Extreme values, Posterior distribution, Pareto distribution, Bayesian modeling, initial parameters. |
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Full-Text [PDF 351 kb]
(870 Downloads)
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Type of Study: Research |
Subject:
General Received: 2009/07/26 | Accepted: 2010/05/13 | Published: 2016/01/9
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