{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,5,14]],"date-time":"2026-05-14T04:59:26Z","timestamp":1778734766613,"version":"3.51.4"},"reference-count":24,"publisher":"Wiley","license":[{"start":{"date-parts":[[2023,11,13]],"date-time":"2023-11-13T00:00:00Z","timestamp":1699833600000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Journal of Applied Mathematics"],"published-print":{"date-parts":[[2023,11,13]]},"abstract":"<jats:p>The generalized Pareto distribution is one of the most important distributions in statistics of extremes as it has wide applications in fields such as finance, insurance, and hydrology. This study proposes two new methods for estimating the shape parameter of the generalized Pareto distribution (GPD). The proposed methods use the shrinkage principle to adapt the existing empirical Bayesian with data-based prior and the likelihood moment method to obtain two estimators. The performance of the proposed estimators is compared with the existing estimators (i.e., maximum likelihood, likelihood moment estimators, etc.) for the shape parameter of the generalized Pareto distribution in a simulation study. The results show that the proposed estimators perform better for small to moderate number of exceedances in estimating shape parameter of the light-tailed distributions and competitive when estimating heavy-tailed distributions. The proposed estimators are illustrated with practical datasets from climate and insurance studies.<\/jats:p>","DOI":"10.1155\/2023\/9750638","type":"journal-article","created":{"date-parts":[[2023,11,13]],"date-time":"2023-11-13T23:05:05Z","timestamp":1699916705000},"page":"1-11","source":"Crossref","is-referenced-by-count":2,"title":["Shrinkage Methods for Estimating the Shape Parameter of the Generalized Pareto Distribution"],"prefix":"10.1155","volume":"2023","author":[{"ORCID":"https:\/\/orcid.org\/0000-0001-7881-3069","authenticated-orcid":true,"given":"Wilhemina Adoma","family":"Pels","sequence":"first","affiliation":[{"name":"Department of Statistics and Actuarial Science, Kwame Nkrumah University of Science and Technology, Ghana"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-1239-6423","authenticated-orcid":true,"given":"Atinuke O.","family":"Adebanji","sequence":"additional","affiliation":[{"name":"Department of Statistics and Actuarial Science, Kwame Nkrumah University of Science and Technology, Ghana"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-9183-1883","authenticated-orcid":true,"given":"Sampson","family":"Twumasi-Ankrah","sequence":"additional","affiliation":[{"name":"Department of Statistics and Actuarial Science, Kwame Nkrumah University of Science and Technology, Ghana"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-1574-784X","authenticated-orcid":true,"given":"Richard","family":"Minkah","sequence":"additional","affiliation":[{"name":"Department of Statistics and Actuarial Science, University of Ghana, Ghana"}]}],"member":"311","reference":[{"key":"1","doi-asserted-by":"publisher","DOI":"10.1214\/aop\/1176996548"},{"key":"2","doi-asserted-by":"publisher","DOI":"10.1214\/aos\/1176343003"},{"issue":"1","key":"3","doi-asserted-by":"crossref","DOI":"10.1186\/s40064-016-1719-2","article-title":"An application of extreme value theory to the management of a hydroelectric dam","volume":"5","author":"R. Minkah","year":"2016","journal-title":"Springer-Plus"},{"issue":"2","key":"4","doi-asserted-by":"crossref","DOI":"10.2298\/YJOR110308013J","article-title":"Quantile estimation for the generalized Pareto distribution with application to finance","volume":"22","author":"J. Jockovic","year":"2012","journal-title":"Yugoslav Journal of Operations Research"},{"key":"5","doi-asserted-by":"publisher","DOI":"10.1007\/978-3-642-33483-2"},{"key":"6","doi-asserted-by":"publisher","DOI":"10.1016\/j.jspi.2011.01.020"},{"key":"7","doi-asserted-by":"publisher","DOI":"10.1890\/04-0606"},{"key":"8","doi-asserted-by":"publisher","DOI":"10.1016\/j.gloplacha.2010.03.006"},{"key":"9","volume-title":"Comparison of parameter estimators for generalized Pareto distribution under peak over threshold","author":"W. A. Pels","year":"2020"},{"key":"10","doi-asserted-by":"publisher","DOI":"10.1007\/978-1-4471-3675-0"},{"issue":"1","key":"11","first-page":"1","article-title":"Tail index estimation of the generalised Pareto distribution using a pivot from a transformed Pareto distribution","volume":"4","author":"R. Minkah","year":"2020","journal-title":"Science and Development"},{"key":"12","doi-asserted-by":"publisher","DOI":"10.1016\/j.pce.2008.12.002"},{"key":"13","doi-asserted-by":"publisher","DOI":"10.1080\/00401706.1987.10488243"},{"key":"14","doi-asserted-by":"publisher","DOI":"10.1080\/01621459.1997.10473683"},{"key":"15","doi-asserted-by":"publisher","DOI":"10.1111\/j.1467-842X.2006.00464.x"},{"key":"16","doi-asserted-by":"publisher","DOI":"10.1016\/j.jhydrol.2007.09.007"},{"key":"17","doi-asserted-by":"publisher","DOI":"10.1016\/j.csda.2011.06.030"},{"key":"18","doi-asserted-by":"publisher","DOI":"10.1198\/tech.2009.08017"},{"key":"19","doi-asserted-by":"publisher","DOI":"10.1198\/TECH.2010.09206"},{"key":"20","doi-asserted-by":"crossref","DOI":"10.1002\/0470012382","volume-title":"Statistics of Extremes: Theory and Applications","author":"J. Beirlant","year":"2004"},{"key":"21","doi-asserted-by":"publisher","DOI":"10.1080\/15598608.2013.865106"},{"key":"22","doi-asserted-by":"publisher","DOI":"10.1016\/j.jkss.2017.02.003"},{"key":"23","doi-asserted-by":"publisher","DOI":"10.1016\/j.oceaneng.2011.06.005"},{"key":"24","doi-asserted-by":"publisher","DOI":"10.1016\/j.csda.2015.12.008"}],"container-title":["Journal of Applied Mathematics"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/downloads.hindawi.com\/journals\/jam\/2023\/9750638.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/downloads.hindawi.com\/journals\/jam\/2023\/9750638.xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/downloads.hindawi.com\/journals\/jam\/2023\/9750638.pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,11,13]],"date-time":"2023-11-13T23:05:13Z","timestamp":1699916713000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.hindawi.com\/journals\/jam\/2023\/9750638\/"}},"subtitle":[],"editor":[{"given":"Yansheng","family":"Liu","sequence":"additional","affiliation":[]}],"short-title":[],"issued":{"date-parts":[[2023,11,13]]},"references-count":24,"alternative-id":["9750638","9750638"],"URL":"https:\/\/doi.org\/10.1155\/2023\/9750638","relation":{},"ISSN":["1687-0042","1110-757X"],"issn-type":[{"value":"1687-0042","type":"electronic"},{"value":"1110-757X","type":"print"}],"subject":[],"published":{"date-parts":[[2023,11,13]]}}}