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Relation Between Cumulative Residual Entropy and Excess Wealth Transform with Applications to Reliability and Risk

Author

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  • Unnikrishnan Nair N.

    (Department of Statistics, Cochin University of Science and Technology, Cochin-682022, India)

  • Vineshkumar B.

    (Department of Statistics, Government Arts College, Thiruvananthapuram-695014, India)

Abstract

Dynamic cumulative residual entropy is a new addition to the class of information measures. In the present paper, we study its relationship with excess wealth transform and derive some identities connecting the two using the quantile-based approach. Some theoretical results that have applications to infer ageing properties and risk measures are presented. These are used as tools to analyse real life data.

Suggested Citation

  • Unnikrishnan Nair N. & Vineshkumar B., 2021. "Relation Between Cumulative Residual Entropy and Excess Wealth Transform with Applications to Reliability and Risk," Stochastics and Quality Control, De Gruyter, vol. 36(1), pages 43-57, June.
    • Handle: RePEc:bpj:ecqcon:v:36:y:2021:i:1:p:43-57:n:6
    DOI: 10.1515/eqc-2020-0036
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    Cited by:

    1. Antonio Di Crescenzo & Abdolsaeed Toomaj, 2022. "Weighted Mean Inactivity Time Function with Applications," Mathematics, MDPI, vol. 10(16), pages 1-30, August.

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