A robust Bayesian approach to modeling epistemic uncertainty in common-cause failure models

Matthias C.M. Troffaes, Gero Walter and Dana Kelly

Reliability Engineering and System Safety, 2014, vol. 125, issue C, 13-21

Abstract: In a standard Bayesian approach to the alpha-factor model for common-cause failure, a precise Dirichlet prior distribution models epistemic uncertainty in the alpha-factors. This Dirichlet prior is then updated with observed data to obtain a posterior distribution, which forms the basis for further inferences.

Keywords: Common-cause failure; Alpha-factor model; Epistemic uncertainty; Conjugate prior; Imprecise Dirichlet model (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:125:y:2014:i:c:p:13-21

DOI: 10.1016/j.ress.2013.05.022

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