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Rejoinder to “Virtual age, is it real?”

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  • Maxim Finkelstein
  • Ji Hwan Cha

Abstract

In this rejoinder, we first comment on valuable discussions of contributors. Based on these meaningful inputs, we proceed with description of the notion of “virtual age” from different perspectives. We also add a more detailed description for the new concept of a random virtual age that is applied to degrading items. The latter is used for age recalculation when one operational regime is switched to another.

Suggested Citation

  • Maxim Finkelstein & Ji Hwan Cha, 2021. "Rejoinder to “Virtual age, is it real?”," Applied Stochastic Models in Business and Industry, John Wiley & Sons, vol. 37(1), pages 45-52, January.
    • Handle: RePEc:wly:apsmbi:v:37:y:2021:i:1:p:45-52
    DOI: 10.1002/asmb.2608
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    References listed on IDEAS

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    1. Maxim Finkelstein & Ji Hwan Cha, 2021. "Virtual age, is it real? ‐ Discussing virtual age in reliability context," Applied Stochastic Models in Business and Industry, John Wiley & Sons, vol. 37(1), pages 3-16, January.
    2. Maxim Finkelstein, 2008. "Failure Rate Modelling for Reliability and Risk," Springer Series in Reliability Engineering, Springer, number 978-1-84800-986-8, January.
    3. Liu, Xingheng & Vatn, Jørn & Dijoux, Yann & Toftaker, Håkon, 2020. "Unobserved heterogeneity in stable imperfect repair models," Reliability Engineering and System Safety, Elsevier, vol. 203(C).
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    Cited by:

    1. Beutner, Eric, 2023. "A review of effective age models and associated non- and semiparametric methods," Econometrics and Statistics, Elsevier, vol. 28(C), pages 105-119.

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