A new bivariate beta distribution with application to drought data

摘要

A new bivariate beta distribution with generalized beta marginals is introduced. Various representations are derived for its product moments, marginal densities, marginal moments, conditional densities and conditional moments. The methods of moments and maximum likelihood are used to derive the associated estimation procedures as well as the Fisher information matrix. A simulation scheme is provided. Finally, an application to drought data from Nebraska is illustrated.