Journal of the Korean Data and Information Science Society

The Korean Data and Information Science Society (한국데이터정보과학회)
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Noninformative priors for common scale parameter in the regular Pareto distributions

  • Kang, Sang-Gil (Department of Computer and Data Information, Sangji University) ;
  • Kim, Dal-Ho (Department of Statistics, Kyungpook National University) ;
  • Kim, Yong-Ku (Department of Statistics, Yeungnam University)
  • Received : 2012.01.06
  • Accepted : 2012.02.13
  • Published : 2012.03.31
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Abstract

In this paper, we introduce the noninformative priors such as the matching priors and the reference priors for the common scale parameter in the Pareto distributions. It turns out that the posterior distribution under the reference priors is not proper, and Jeffreys' prior is not a matching prior. It is shown that the proposed first order prior matches the target coverage probabilities in a frequentist sense through simulation study.

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References

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