On a new multivariate IFR ageing notion based on the standard construction. (10th January 2016)

• Record Type: Journal Article
• Authors: Arriaza, A.; Belzunce, F.; Mulero, J.; Suárez‐Llorens, A.
• Is Part Of: Applied stochastic models in business and industry. Volume 32:Number 2(2016:Mar./Apr.)
• Page Start: 292
• Page End: 306
• Publication Date: 2016-01-10
• Subjects: standard construction -- multivariate distributional transform -- multivariate convex transform order -- multivariate IFR distributions; Stochastic analysis -- Periodicals; Stochastic processes -- Periodicals; Business mathematics -- Periodicals; Finance -- Mathematical models -- Periodicals; Industrial management -- Mathematical models -- Periodicals; 338.00151923
• DOI: 10.1002/asmb.2152
• Languages: English
• ISSNs: 1524-1904

Abstract

Abstract : Many criteria of ageing for random variables or vectors have been proposed in the literature over many years. For instance, a random variable is increasing in failure rate (IFR) if, and only if, it can be ordered with an exponentially distributed random variable in the classical univariate convex transform order. A new multivariate generalization of the convex transform order has recently been proposed in the literature. In this work, we propose a new multivariate IFR notion for multivariate distributions based on comparisons in this new order with a properly defined exponentially distributed random vector. Properties, applications, and illustrations of this new notion are given as well. Copyright © 2016 John Wiley & Sons, Ltd.