Bayesian analysis of three parameter singular Marshall-Olkin bivariate Pareto distribution

TL;DR

This paper conducts a Bayesian analysis of the three-parameter singular Marshall-Olkin bivariate Pareto distribution, comparing prior choices and estimation methods with an illustrative data example.

Contribution

It introduces Bayesian estimation techniques for this specific distribution using reference and gamma priors, employing slice-cum-Gibbs sampling and Lindley's approximation.

Findings

Bayes estimates are computed for the parameters.

Credible intervals are provided for all methods.

An illustrative data analysis demonstrates the methods.

Abstract

This paper provides bayesian analysis of singular Marshall-Olkin bivariate Pareto distribution. We consider three parameter singular Marshall-Olkin bivariate Pareto distribution. We consider two types of prior - reference prior and gamma prior. Bayes estimate of the parameters are calculated based on slice cum gibbs sampler and Lindley approximation. Credible interval is also provided for all methods and all prior distributions. A data analysis is kept for illustrative purpose.