Article ID: | iaor20051991 |
Country: | Netherlands |
Volume: | 155 |
Issue: | 3 |
Start Page Number: | 675 |
End Page Number: | 682 |
Publication Date: | Jun 2004 |
Journal: | European Journal of Operational Research |
Authors: | Pang Wan-Kai, Hou Shui-Hung, Yu Bosco W.T., Li Ken W.K. |
Keywords: | simulation: applications |
The gamma distribution is one of the commonly used statistical distributions in reliability. While maximum likelihood has traditionally been the main method for estimation of gamma parameters, Hirose has proposed a continuation method to parameter estimation for the three-parameter gamma distribution. In this paper, we propose to apply Markov chain Monte Carlo techniques to carry out a Bayesian estimation procedure using Hirose's simulated data as well as two real data sets. The method is indeed flexible and inference for any quantity of interest is readily available.