In this paper we modeled a bivariate Pareto I distribution using the method
of principle of maximum entropy probability distribution. Properties of the
model are discussed. Further the estimation of the parameters involved in the
model is done in two stages using two different methods namely, principle of
maximum entropy estimation (POME) and maximum likelihood estimation.
From the simulation study conducted to compare the performance of the
estimates obtained by the above two methods, we conclude that POME
method is performing better than MLE and the two methods are comparable
