Research Article
Bayesian Estimation of Inequality and Poverty Indices in Case of Pareto Distribution Using Different Priors under LINEX Loss Function
Table 1
Estimated loss functions for α using LINEX loss function.
| | |
Uniform prior |
Jeffrey’s prior | Conjugate prior | = 0.5 = 2 | = 2 = 2 |
| 20 | 2.5 | 0.200543 | 0.173893 | 0.112013 | 0.113299 | 3.5 | 0.423936 | 0.357678 | 0.281125 | 0.371823 | 4.5 | 0.719781 | 0.456351 | 0.311154 | 0.710794 |
| 40 | 2.5 | 0.110843 | 0.077269 | 0.050112 | 0.072872 | 3.5 | 0.207535 | 0.204212 | 0.145707 | 0.174398 | 4.5 | 0.324085 | 0.228739 | 0.207738 | 0.344289 |
| 60 | 2.5 | 0.065696 | 0.061891 | 0.058858 | 0.059336 | 3.5 | 0.135812 | 0.104322 | 0.102511 | 0.123564 | 4.5 | 0.283127 | 0.211419 | 0.149228 | 0.224148 |
| 80 | 2.5 | 0.048582 | 0.052477 | 0.044407 | 0.045243 | 3.5 | 0.094729 | 0.094126 | 0.081215 | 0.089861 | 4.5 | 0.146575 | 0.140906 | 0.126948 | 0.163061 |
| 100 | 2.5 | 0.047068 | 0.040324 | 0.034990 | 0.038336 | 3.5 | 0.072414 | 0.071366 | 0.065080 | 0.070502 | 4.5 | 0.112283 | 0.104459 | 0.099383 | 0.131260 |
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