Bayes reliability measures of Lognormal and inverse Gaussian distributions under ML-II ε-contaminated class of prior distributions

In this paper we employ ML-II ε-contaminated class of priors to study the sensitivity of Bayes Reliability measures for an Inverse Gaussian (IG) distribution and Lognormal (LN) distribution to misspecification in the prior. The numerical illustrations suggest that reliability measures of both the distributions are not sensitive to moderate amount of misspecification in prior distributions belonging to the class of ML-II ε-contaminated.

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Year of publication:	2009-07-29
Authors:	Sinha, Pankaj ; Jayaraman, Prabha
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Bayes reliability \| ML-II ε-contaminated prior

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	C13 - Estimation ; C44 - Statistical Decision Theory; Operations Research ; C02 - Mathematical Methods ; c46 ; C11 - Bayesian Analysis ; C01 - Econometrics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005029703