BAYES ESTIMATORS OF SHAPE PARAMETER OF PARETO DISTRIBUTION UNDER TWO DIFFERENT LOSS FUNCTIONS

In this paper, Bayes estimators of the shape parameter theta of Pareto distribution have been attained for different priors. The paper also discusses the comparison of Bayes estimators of theta and other estimators like, uniformly minimum variance unbiased estimator (UMVUE) and Maximum likelihood estimator (MLE) of theta under Two loss functions namely, Asymmetric Precautionary Loss Function (APLF) and Squared Error Loss Function (SELF). The results have been illustrated using a simulation study with varying sample sizes through R software.