Journal of the Korean Data and Information Science Society

The Korean Data and Information Science Society (한국데이터정보과학회)
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Noninformative priors for product of exponential means

  • 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 Data Management, Daegu Haany University)
  • Received : 2015.04.18
  • Accepted : 2015.05.22
  • Published : 2015.05.31
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Abstract

In this paper, we develop the noninformative priors for the product of different powers of k means in the exponential 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 the highest posterior density matching prior. Also we revealed that the derived reference prior is the second order matching prior, and Jeffreys' prior and reference prior are the same. We showed that the proposed reference prior matches very well the target coverage probabilities in a frequentist sense through simulation study, and an example based on real data is given.

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