Generalized moment-independent importance measures based on Minkowski distance

Qingqing Zhai, Jun Yang, Min Xie and Yu Zhao

European Journal of Operational Research, 2014, vol. 239, issue 2, 449-455

Abstract: Importance measures have been widely studied and applied in reliability and safety engineering. This paper presents a general formulation of moment-independent importance measures and several commonly discussed importance measures are unified based on Minkowski distance (MD). Moment-independent importance measures can be categorized into three classes of MD importance measures, i.e. probability density function based MD importance measure, cumulative distribution function based MD importance measure and quantile based MD importance measure. Some properties of the proposed MD importance measures are investigated. Several new importance measures are also derived as special cases of the generalized MD importance measures and illustrated with some case studies.

Keywords: Moment-independent importance measures; Minkowski distance; Probability density function; Cumulative distribution function; Quantile (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:239:y:2014:i:2:p:449-455

DOI: 10.1016/j.ejor.2014.05.021

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