2010
DOI: 10.1002/asmb.825
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Percentile residual life orders

Abstract: In this paper we study a family of stochastic orders of random variables defined via the comparison of their percentile residual life functions. Some interpretations of these stochastic orders are given, and various properties of them are derived. The relationships to other stochastic orders are also studied. Finally, some applications in reliability theory and finance are described.

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Cited by 13 publications
(3 citation statements)
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“…al. [22] proved that ≤ ℎ if for any ∈ (0, 1) we have ≤ − . Here, we define X to be smaller than Y in the -quantile residual life if order X ≤ − Y, if…”
Section: Multivariate -Quantile Residual Life Ordermentioning
confidence: 99%
“…al. [22] proved that ≤ ℎ if for any ∈ (0, 1) we have ≤ − . Here, we define X to be smaller than Y in the -quantile residual life if order X ≤ − Y, if…”
Section: Multivariate -Quantile Residual Life Ordermentioning
confidence: 99%
“…Properties of the PRL-p have been explored in a number of studies, e.g. see [16], [17] and [18] among others. The median residual life as a special case of the PRL-p also receives much attention, e.g.…”
Section: Preliminariesmentioning
confidence: 99%
“…Haines and Singpurwalla (1974) introduced the α-percentile residual life (α-PRL) function describing the α-percentile or quantile of the remaining life given survival up to a certain time. Afterwards, many authors studied this reliability measure in some details, e.g., Arnold and Brockett (1983), Gupta and Longford (1984), Joe and Proschan (1984), Joe (1985), Song and Cho (1995), Lin (2009), and Franco-Pereira et al (2010a, 2010b, 2010c, 2011. This measure and specially the median residual life function (0.5-PRL function) may be a good alternative for the MRL function particularly when the underlying distribution is skewed, the data are censored, we may have some outliers in the data set, or the statement for the MRL function is very complicated or infinite.…”
Section: Introductionmentioning
confidence: 99%