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- Title
The alpha-mixture of survival functions.
- Authors
Asadi, Majid; Ebrahimi, Nader; Soofi, Ehsan S.
- Abstract
This paper presents a flexible family which we call the $\alpha$ -mixture of survival functions. This family includes the survival mixture, failure rate mixture, models that are stochastically closer to each of these conventional mixtures, and many other models. The $\alpha$ -mixture is endowed by the stochastic order and uniquely possesses a mathematical property known in economics as the constant elasticity of substitution, which provides an interpretation for $\alpha$. We study failure rate properties of this family and establish closures under monotone failure rates of the mixture's components. Examples include potential applications for comparing systems.
- Publication
Journal of Applied Probability, 2019, Vol 56, Issue 4, p1151
- ISSN
0021-9002
- Publication type
Article
- DOI
10.1017/jpr.2019.72