Characterizations of the hazard rate order and IFR aging notion
The Laplace transform of residual lives order has been recently defined and studied in the literature to compare random lifetimes. Here, we prove that such stochastic order is equivalent to the well-known hazard rate order. As consequences, we get new characterizations of the hazard rate order and increasing in failure rate (IFR) aging notion, in terms also of the mean residual life order and decreasing in mean residual life (DMRL) aging notion.
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Volume (Year): 70 (2004)
Issue (Month): 4 (December)
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References listed on IDEAS
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.:
- Thistle, Paul D., 1993. "Negative Moments, Risk Aversion, and Stochastic Dominance," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 28(02), pages 301-311, June.
- Belzunce, Félix & Ortega, Eva & Ruiz, José M., 1999. "The Laplace order and ordering of residual lives," Statistics & Probability Letters, Elsevier, vol. 42(2), pages 145-156, April.
- Denuit, Michel, 2001. "Laplace transform ordering of actuarial quantities," Insurance: Mathematics and Economics, Elsevier, vol. 29(1), pages 83-102, August.
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