Photon counting detectors (PCDs) may provide several benefits over energy-integrating detectors (EIDs), including spectral information for tissue characterization and the elimination of electronic noise. PCDs, however, suffer from pulse pileup, which distorts the detected spectrum and degrades the accuracy of material decomposition. Several analytical models have been proposed to address this problem. The performance of these models are dependent on the assumptions used, including the estimated pulse shape whose parameter values could differ from the actual physical ones. As the incident flux increases and the corrections become more significant the needed parameter value accuracy may be more crucial. In this work, the sensitivity of model parameter accuracies is analyzed for the pileup model of Taguchi et al. The spectra distorted by pileup at different count rates are simulated using either the model or Monte Carlo simulations, and the basis material thicknesses are estimated by minimizing the negative log-likelihood with Poisson or multivariate Gaussian distributions. From simulation results, we find that the accuracy of the deadtime, the height of pulse negative tail, and the timing to the end of the pulse are more important than most other parameters, and they matter more with increasing count rate. This result can help facilitate further work on parameter calibrations.