An extension and implications of the inspection paradox

Walter Kremers

Statistics & Probability Letters, 1988, vol. 6, issue 4, 269-273

Abstract: If random variables are observed until their sum first exceeds a constant then the "inspection paradox" is that XN is stochastically larger than X1. We generalize the inspection paradox, show a stochastic ordering of X1,...XN, and then interpret and consider ramifications of this stochastic ordering.

Keywords: renewal; process; stochastically; larger; Wald's; identity (search for similar items in EconPapers)
Date: 1988
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