A new class of ageing distributions
The 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.
|Date of creation:||Dec 2002|
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- 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.).
- Stephen W. Salant, 1977. "Search Theory and Duration Data: A Theory of Sorts," The Quarterly Journal of Economics, Oxford University Press, vol. 91(1), pages 39-57.
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