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http://dx.doi.org/10.7465/jkdi.2014.25.1.227

Noninformative priors for the log-logistic distribution  

Kang, Sang Gil (Department of Computer and Data Information, Sangji University)
Kim, Dal Ho (Department of Statistics, Kyungpook National University)
Lee, Woo Dong (Department of Asset Management, Daegu Haany University)
Publication Information
Journal of the Korean Data and Information Science Society / v.25, no.1, 2014 , pp. 227-235 More about this Journal
Abstract
In this paper, we develop the noninformative priors for the scale parameter and the shape parameter in the log-logistic distribution. We developed the first and second order matching priors. It turns out that the second order matching prior matches the alternative coverage probabilities, and is a highest posterior density matching prior. Also we revealed that the derived reference prior is the second order matching prior for both parameters, but Jerffrey's prior is not a second order matching prior. We showed that the proposed reference prior matches the target coverage probabilities in a frequentist sense through simulation study, and an example based on real data is given.
Keywords
Log-logistic distribution; matching prior; reference prior;
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Times Cited By KSCI : 5  (Citation Analysis)
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