Bayesian estimation for component distribution from system lifetime data

The problem of Bayesian estimation of the proportionality parameter in the proportional hazard rate model is considered. The Bayes estimate is obtained on the basis of system lifetime data and under the squared error loss function. Explicit forms of Bayes estimator cannot be obtained. Approximate expressions for this estimate are derived using the Simulation-Based method as well as using the Mont-Carlo Integration method. A numerical simulation study is performed to compare the proposed estimates.