Shrinkage estimators of shape parameter of contaminated Pareto model with insurance application

Authors : Rahele MOLLAİE, Mehdi JABBARİ NOOGHABİ

Pages : 1082-1095

View : 195 | Download : 255

Publication Date : 2023-08-15

Article Type : Research Paper

Abstract :In this paper, a Pareto distribution in the presence of outliers is proposed as a claim size distribution. The shrinkage estimators of the shape parameter $\\alpha$ are derived. Also, estimators of Premium are considered and compared by using simulation study. Finally, an actual example is proposed for obtaining different estimators of the Premium.
Keywords : Pareto distribution, maximum likelihood, moment method, Shrinkage estimator, uniformly minimum variance unbiased, outliers, premium, insurance