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A Comparison of Maximum Likelihood and Bayesian Estimators for the Three‐Parameter Weibull Distribution

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  • Richard L. Smith
  • J. C. Naylor

Abstract

Maximum likelihood and Bayesian estimators are developed and compared for the three‐parameter Weibull distribution. For the data analysed in the paper, the two sets of estimators are found to be very different. The reasons for this are explored, and ways of reducing the discrepancy, including reparametrization, are investigated. Our overall conclusion is that there are practical advantages to the Bayesian approach.

Suggested Citation

  • Richard L. Smith & J. C. Naylor, 1987. "A Comparison of Maximum Likelihood and Bayesian Estimators for the Three‐Parameter Weibull Distribution," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 36(3), pages 358-369, November.
    • Handle: RePEc:bla:jorssc:v:36:y:1987:i:3:p:358-369
    DOI: 10.2307/2347795
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