Bayesian approach for parameter estimation of the diagonal of the Modified Riesz Distribution

In this paper, we examine the problem of estimating the parameters of the proposed Diagonal of the Modified Riesz Distribution (DMRD) defined in RrRr. Several methods can be used for estimating the parameters of the DMRD. In the present work, we address the issue of estimating the parameters of the DMRD through a Bayesian approach associated with Monte Carlo methods. The proposed approach is compared via a simulation study with maximum likelihood method and method of moments by calculating the Mean Square Error (MSE).