Decision-theoretic reliability sensitivity

Daniel Straub, Max Ehre and Iason Papaioannou

Reliability Engineering and System Safety, 2022, vol. 221, issue C

Abstract: We propose and discuss sensitivity metrics for reliability analysis, which are based on the value of information. These metrics are easier to interpret than other existing sensitivity metrics in the context of a specific decision and they are applicable to any type of reliability assessment, including those with dependent inputs. We develop computational strategies that enable efficient evaluation of these metrics, in some scenarios without additional runs of the deterministic model. The metrics are investigated by application to numerical examples.

Keywords: Sensitivity analysis; Value of information; Reliability (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:221:y:2022:i:c:s0951832021006931

DOI: 10.1016/j.ress.2021.108215

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