On Bayesian approach to composite Pareto models.
Ontology highlight
ABSTRACT:
SUBMITTER: Abdul Majid MH
PROVIDER: S-EPMC8460011 | biostudies-literature | 2021
REPOSITORIES: biostudies-literature
Publications
On Bayesian approach to composite Pareto models.
Abdul Majid Muhammad Hilmi MH Ibrahim Kamarulzaman K
PloS one 20210923 9
In data modelling using the composite Pareto distribution, any observations above a particular threshold value are assumed to follow Pareto type distribution, whereas the rest of the observations are assumed to follow a different distribution. This paper proposes on the use of Bayesian approach to the composite Pareto models involving specification of the prior distribution on the proportion of data coming from the Pareto distribution, instead of assuming the prior distribution on the threshold, ...[more]
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