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A note on the Log-Lindley distribution

Author

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  • Jodrá, P.
  • Jiménez-Gamero, M.D.

Abstract

The Log-Lindley distribution is a continuous probability model with useful applications in insurance and inventory management. In this note, it is proven that pseudo-random data from this model can be generated by computer via the Lambert W function. A reparametrization suitable to get estimates of the parameters is proposed. Moreover, it is shown that this reparametrization is appropriate to perform a regression analysis with dependent variable taking values in the unit interval.

Suggested Citation

  • Jodrá, P. & Jiménez-Gamero, M.D., 2016. "A note on the Log-Lindley distribution," Insurance: Mathematics and Economics, Elsevier, vol. 71(C), pages 189-194.
    • Handle: RePEc:eee:insuma:v:71:y:2016:i:c:p:189-194
    DOI: 10.1016/j.insmatheco.2016.09.005
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    References listed on IDEAS

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