Varentropy Properties of Record Values

Accepted - September 2024

Abstract

In this paper, we study the varentropy measure based on record values and examine some of its properties. We establish some bounds for the varentropy measure of record values. In addition, the varentropy measure of residual and past lifetimes based on record values are also considered. As an application of varentropy measure, we consider the problem of estimation of the varentropy for the Pareto model based on the record values. Maximum likelihood estimation and Bayes estimation are considered. A simulation study is performed to determine the performance of the estimators developed in this paper.