Estimators Which Shrink Towards a Point Other Than the Origin

In this study, estimators which shrink towards other than the origin are developed. We discuss the harmonic mean of the observations as a reasonable center and develop estimators which shrink the MLE(${\delta}^{\circ}$) towards the harmonic mean under the loss function $L_1$. The percentage reduction of average loss(PRAL) of derived estimators compared to the usual estimator(MLE) under the loss function $L_1$ is estimated for p=4 and 8. Computer simulation shows that the risk performance of the derived estiamtors is remarkably good when the means are greater than three.