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Robust Bayesian analysis of Weibull failure model

Anoop Chaturvedi (), Manaswini Pati () and Sanjeev Tomer ()

METRON, 2014, vol. 72, issue 1, 77-95

Abstract: The main objective of present paper is to consider robust Bayesian analysis of the Weibull failure model under an $$\varepsilon $$ ε -contamination class of priors for the parameters. The Bayes estimators for the mean life, reliability function and failure rate are obtained under the squared error loss function and LINEX loss function. For numerical illustrations we present simulation study and analysis of a real data set by using Gibbs sampler. Copyright Sapienza Università di Roma 2014

Keywords: Weibull distribution; $$\varepsilon $$ ε -contamination class of prior distributions; ML-II posterior density; Reliability function; Squared error loss function (SELF); LINEX loss function; Markov Chain Monte Carlo (MCMC) procedure; Gibbs sampler; 62F15; 62N05; 62G35 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/s40300-013-0027-7

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Handle: RePEc:spr:metron:v:72:y:2014:i:1:p:77-95