New shrinkage estimator outperforms traditional methods in prediction accuracy.
The article introduces a new type of regression estimator that outperforms traditional methods in certain situations. By adjusting the shrinkage parameters, the new estimator shows better results than Ordinary Least Squares and James-Stein estimators. The study includes numerical analysis to show when this new estimator is more accurate than the James-Stein estimator in predicting mean square error.