Shocks in homogeneous and heterogeneous populations

Maxim S. Finkelstein
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Maxim S. Finkelstein: Max Planck Institute for Demographic Research, Rostock, Germany

No WP-2005-024, MPIDR Working Papers from Max Planck Institute for Demographic Research, Rostock, Germany

Abstract: A system subject to a point process of shocks is considered. Shocks occur in accordance with a nonhomogeneous Poisson process. Different criterions of system failures are discussed in a homogeneous case. Two natural settings are analyzed. Heterogeneity is modeled by an unobserved univariate random variable (frailty). It is shown that reliability (safety) analysis for a heterogeneous case can differ dramatically from that for a homogeneous setting. A shock burn-in procedure for a heterogeneous population is described. The corresponding bounds for the failure rates are obtained.

JEL-codes: J1 Z0 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:dem:wpaper:wp-2005-024

DOI: 10.4054/MPIDR-WP-2005-024

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