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Preservation of stochastic orders for random minima and maxima, with applications
Author(s) -
Li Xiaohu,
Zuo Ming J.
Publication year - 2004
Publication title -
naval research logistics (nrl)
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.665
H-Index - 68
eISSN - 1520-6750
pISSN - 0894-069X
DOI - 10.1002/nav.10122
Subject(s) - maxima and minima , maxima , order (exchange) , regular polygon , mathematics , reliability (semiconductor) , stochastic ordering , statistical physics , combinatorics , mathematical optimization , mathematical analysis , geometry , physics , economics , art , power (physics) , finance , quantum mechanics , performance art , art history
It is shown, in this note, that the right spread order and the increasing convex order are both preserved under the taking of random maxima, and the total time on test transform order and the increasing concave order are preserved under the taking of random minima. Some inequalities and preservation properties in reliability and economics are given as applications. © 2003 Wiley Periodicals, Inc. Naval Research Logistics, 2004.