Bayesian estimation of inverted exponential distribution based on record values

Abstract

In the present study, we propose Bayes estimators of parameter, reliability and hazard function for inverted exponential distribution (IED) under different loss functions based on record values. For this purpose, we have used both informative and non-informative priors. A Monte Carlo simulation study is carried out to compare the performance of proposed estimators with corresponding maximum likelihood estimators (MLEs) in terms of their simulated risks. © ISOSS Publications 2017.