Construction of copulas for bivariate failure rates

Shaomin Wu (), Hongyan Dui and Linmin Hu
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Shaomin Wu: University of Kent
Hongyan Dui: Zhengzhou University
Linmin Hu: Yanshan University

Annals of Operations Research, 2024, vol. 341, issue 2, No 16, 1177-1189

Abstract: Abstract This paper aims to develop a method to construct an asymmetric copula, based on which a closed form of the cumulative bivariate failure rate can be obtained. The construction method differs from existing ones. This new method can facilitate the derivation of some results such as the estimation of the expected number of occurrences for a system whose failure process is modelled by a bivariate stochastic process or the expected cost in optimisation of maintenance policies.

Keywords: Dependence; Copula; Asymmetric copula; Bivariate failure rate (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10479-024-06053-x

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