Hazard rate and reversed hazard rate orders on extremes of heterogeneous and dependent random variables

Chen Li and Xiaohu Li

Statistics & Probability Letters, 2019, vol. 146, issue C, 104-111

Abstract: We develop sufficient conditions for the hazard rate order on minimums of sample with Archimedean survival copulas and having proportional hazard rates or scales, and the reversed hazard rate order on maximums of sample with Archimedean copulas and have proportional reversed hazard rates, respectively. Also, we present applications of the hazard rate order on sample minimums in engineering reliability and actuarial risk.

Keywords: Archimedean copula; Decreasing hazard rate; Proportional hazard rates; Scale model; Weak supermajorization (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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DOI: 10.1016/j.spl.2018.11.005

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