Bayesian Approach in Estimation of Scale Parameter of Inverse Rayleigh Distribution

In this paper, we obtained some Bayesian estimators of the parameter of an Inverse Rayleigh distribution under three different loss functions, represented by Quadratic loss function, Quasi-quadratic loss function and Generalized square error loss function. In order to get a better understanding of our Bayesian analysis, we consider the non-informative prior for the parameter, as well as informative prior density. Based on a Monte Carlo simulation study, the performance of those estimates have been compared using the mean square error's (MSE's) as the comparison criteria. The results showed that, the Bayesian estimation with Gamma prior under Quasi-Quadratic and Generalized square error loss functions are the best estimators for the one parameter Inverse Rayleigh distribution