Relation Between Cumulative Residual Entropy and Excess Wealth Transform with Applications to Reliability and Risk

Unnikrishnan Nair N. () and Vineshkumar B. ()
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Unnikrishnan Nair N.: Department of Statistics, Cochin University of Science and Technology, Cochin-682022, India
Vineshkumar B.: Department of Statistics, Government Arts College, Thiruvananthapuram-695014, India

Stochastics and Quality Control, 2021, vol. 36, issue 1, 43-57

Abstract: Dynamic cumulative residual entropy is a new addition to the class of information measures. In the present paper, we study its relationship with excess wealth transform and derive some identities connecting the two using the quantile-based approach. Some theoretical results that have applications to infer ageing properties and risk measures are presented. These are used as tools to analyse real life data.

Keywords: Cumulative Residual Entropy; Excess Wealth Transform; Characterizations; Ageing Properties; Expected Shortfall (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1515/eqc-2020-0036

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