Percentile residual life orders

Alba María Franco Pereira, Rosa Elvira Lillo Rodríguez, Juan Romo and Moshe Shaked

DES - Working Papers. Statistics and Econometrics. WS from Universidad Carlos III de Madrid. Departamento de Estadística

Abstract: In this paper we study a family of stochastic orders of random variables defined via the comparison of their percentile residual life functions. Some interpretations of these stochastic orders are given, and various properties of them are derived. The relationships to other stochastic orders are also studied. Finally, some applications in reliability theory and finance are described.

Keywords: Mean; residual; life; function; Hazard; rate; order; Reversed; hazard; rate; order; Mixtures; Lehmann's; alternative; Proportional; hazards; Imperfect; repair; Reliability; theory; Value; at; risk; Deductible (search for similar items in EconPapers)
Date: 2008-11
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Persistent link: https://EconPapers.repec.org/RePEc:cte:wsrepe:ws086422

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