Comparison of LINEX and precautionary bayes estimators on the gamma distribution using censored data

Abstract

In this paper we derive Bayes Estimators of the scale parameter of gamma distribution by taking different four prior distributions using the LINEX and Precautionary loss functions and after using iterative procedure and Monte-Carlo simulation we compare the efficiency of all the estimators empirically. At the end we conclude that the Bayes estimator under precautionary loss function is more efficient than the Bayes estimator under LINEX loss function.

Keywords:

• Bayes estimate
• LINEX loss function
• Precautionary loss function
• Type II censoring
• Prior distribution
• Monte-Carlo simulation
• Iteration procedure