Preservation of stochastic orders for random minima and maxima, with applications

Preservation of stochastic orders for random minima and maxima, with applications

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Article ID: iaor20052395
Country: United States
Volume: 51
Issue: 3
Start Page Number: 332
End Page Number: 344
Publication Date: Apr 2004
Journal: Naval Research Logistics
Authors: ,
Keywords: quality & reliability
Abstract:

It is shown, in this note, that the right spread order and the increasing convex order are both preserved under the taking of random maxima, and the total time on test transform order and the increasing concave order are preserved under the taking of random minima. Some inequalities and preservation properties in reliability and economics are given as applications.

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