Realistic variation of shock models

Allan Gut and Jürg Hüsler

Statistics & Probability Letters, 2005, vol. 74, issue 2, 187-204

Abstract: The standard assumptions in shock models are that the failure (of a system) is related either to the cumulative effect of a (large) number of shocks or that failure is caused by a shock that exceeds a certain critical level. The present paper is devoted to both types but with variation of the scheme. We consider that a shock can partly harm the system which implies a lower critical boundary for the following shocks to be fatal. For the cumulative model we deal with the case that only the sum of the most recent shocks implies a system failure. In addition, we consider the combination of both models with some link functions.

Keywords: Shock; Intershock; time; Stopped; random; walk; Renewal; theory; First; passage; times; Moments; Convergence (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (36)

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