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Excess Wealth Transform with Applications
Stochastic Orders in Reliability and Risk Lecture Notes in Statistics (2013)
  • Subhash Kochar, Portland State University
  • Maochao Xu, Illinois State University
Abstract

Shaked and Shanthikumar [425] introduced the excess wealth transform and the related excess wealth order. A lot of research activities have taken place on this topic lately. In this paper, we discuss some recent developments of this transform and illustrate how to use this transform in extreme value analysis. We also summarize the applications of excess wealth order in reliability theory, auction theory, and actuarial science. Some new research directions are mentioned as well.

Disciplines
Publication Date
May, 2013
Citation Information
Subhash Kochar and Maochao Xu. "Excess Wealth Transform with Applications" Stochastic Orders in Reliability and Risk Lecture Notes in Statistics Vol. 208 (2013)
Available at: http://works.bepress.com/subhash_kochar/17/