Bayesian analysis of the Weibull paired comparison model using informative prior

Abstract

Paired comparison (PC) scheme is very helpful in ranking objects. In this paper, a new paired comparison model is developed using the Weibull distribution and analyzed in Bayesian framework using informative prior under different loss functions. Summary of posterior estimates is evaluated to assess the ranking of the social media applications, i.e., Facebook, Whatsapp, Instagram, Skype and Twitter. The ranking presented by the model is justifiable according to the prevalence of the usage of the social media applications. The developed model is found to be plausible by the goodness of fit criteria.

Keywords

• Bayesian hypothesis testing
• Informative prior
• Loss functions
• Paired comparison
• Preference probabilities
• Predictive probabilities