Point estimation under asymmetric loss functions for left-truncated exponential samples
- 1 January 1996
- journal article
- research article
- Published by Informa UK Limited in Communications in Statistics - Theory and Methods
- Vol. 25 (3), 585-600
- https://doi.org/10.1080/03610929608831715
Abstract
In this paper, Bayes estimates of the parameters and functions thereof in the left-truncated exponential distribution are derived. Asymmetric loss functions are used to reflect that, in most situations of interest, overestimation of a parameter does not produce the same economic consequence than underestimation. Both the non-informative prior and an informative prior on the reliability level at a prefixed time value are considered, and the statistical performances of the Bayes estimates are compared to those of the maximum likelihood ones through the risk function.Keywords
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