A new class of ageing distributions
AbstractThe class of new worse/better than used in expectation on average (NWUEA/NBUEA) distributions is proposed. It is defined by the requirement that for each age t a weighted average of mean residual lives be greater/smaller than the life expectancy at birth. The weights are the shares of ages up to t in the steady state stock which results from cohorts whose density is to be classified. The NWUEA class has a second order stochastic dominance property whose first order counterpart defines the class of new worse than used in expectation (NWUE) distributions.
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Bibliographic InfoPaper provided by Department of Economics, Johannes Kepler University Linz, Austria in its series Economics working papers with number 2002-11.
Date of creation: Dec 2002
Date of revision:
NWUE distribution; stochastic dominance;
Find related papers by JEL classification:
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-01-19 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Salant, Stephen W, 1977.
"Search Theory and Duration Data: A Theory of Sorts,"
The Quarterly Journal of Economics,
MIT Press, vol. 91(1), pages 39-57, February.
- Stephen W. Salant, 1974. "Search theory and duration data: a theory of sorts," Special Studies Papers 42, Board of Governors of the Federal Reserve System (U.S.).
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