Bayesian Estimation for Two Parameters of Gamma Distribution Under Precautionary Loss Function


In the current study, the researchers have been obtained Bayes estimators for the shape andscale parameters of Gamma distribution under the precautionary loss function, assuming thepriors, represented by Gamma and Exponential priors for the shape and scale parametersrespectively. Moment, Maximum likelihood estimators and Lindley’s approximation have beenused effectively in Bayesian estimation.Based on Monte Carlo simulation method, those estimators are compared depending on themean squared errors (MSE’s). The results show that, the performance of Bayes estimator underprecautionary loss function with Gamma and Exponential priors is better than other estimates inall cases.