Bayesian $k$-record analysis for the Lomax distribution using objective priors

Authors

  • Zoran Cedo Vidovic University of Belgrade, Faculty of Education Kraljice Natalije 43, 11000 Belgrade, Serbia
  • Jelena Nikolic University of Nis, Faculty of Electronic Engineering Aleksandra Medvedeva 14, 18000 Nis, Serbia
  • Zoran Peric University of Nis, Faculty of Electronic Engineering Aleksandra Medvedeva 14, 18000 Nis, Serbia

DOI:

https://doi.org/10.30495/jme.v18i0.3004

Keywords:

Lomax distribution, maximum likelihood estimates, objective priors, proper posteriors, records

Abstract

In this paper, we present new perspectives    of the parameters of a Lomax  model that measure the  relevance of different priors on the posteriors using upper $k$th records.  The importance of  this analysis is shown through the  establishment of  convenient rankings based on objective priors.   Among several possible priors, such as Jeffrey's, reference and maximal data information priors, we identify those priors that satisfy specific  convergence concepts. For illustration purposes, we measure the relevance of the priors within simulated data and real medical data of  cancer patients.

Author Biographies

Zoran Cedo Vidovic, University of Belgrade, Faculty of Education Kraljice Natalije 43, 11000 Belgrade, Serbia

Department of Mathematics
Assistant Professor

Jelena Nikolic, University of Nis, Faculty of Electronic Engineering Aleksandra Medvedeva 14, 18000 Nis, Serbia

Department of Telecommunications
Associate Professor

Zoran Peric, University of Nis, Faculty of Electronic Engineering Aleksandra Medvedeva 14, 18000 Nis, Serbia

Department of Telecommunications
Full Professor

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Published

2024-08-04

Issue

Vol. 18

Section

Vol. 18, No. 4, (2024)

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