Comparison of the maximum likelihood and bayes estimators for symmetric bivariate exponential distribution under different loss functions

Abstract

Consider a system with lifetime governed by a bivariate exponential model $\left( X,Y\right)$. Using the maximum likelihood method and the Bayesian approach, we estimate the parameters and the mean time between failure (MTBF) of this model. To compare the estimators, an exhaustive Monte Carlo study is performed using the Pitman closeness criterion and the relative efficiency.