A note on the Log-Lindley distribution

P. Jodrá and M.D. Jiménez-Gamero

Insurance: Mathematics and Economics, 2016, vol. 71, issue C, 189-194

Abstract: The Log-Lindley distribution is a continuous probability model with useful applications in insurance and inventory management. In this note, it is proven that pseudo-random data from this model can be generated by computer via the Lambert W function. A reparametrization suitable to get estimates of the parameters is proposed. Moreover, it is shown that this reparametrization is appropriate to perform a regression analysis with dependent variable taking values in the unit interval.

Keywords: Log-Lindley distribution; Lambert W function; Maximum likelihood; Beta regression model; Pseudo-random data generation (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eee:insuma:v:71:y:2016:i:c:p:189-194

DOI: 10.1016/j.insmatheco.2016.09.005

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