On the relationship between the reversed hazard rate and elasticity
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On the relationship between the reversed hazard rate and elasticity

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On the relationship between the reversed hazard rate and elasticity

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Veres Ferrer, Ernesto Jesús; Pavía Miralles, José Manuel
Aquest document és un/a article, creat/da en: 2014
Despite hazard and reversed hazard rates sharing a number of similar aspects, reversed hazard functions are far less frequently used. Understanding their meaning is not a simple task. The aim of this paper is to expand the usefulness of the reversed hazard function by relating it to other well-known concepts broadly used in economics: (linear or cumulative) rates of increase and elasticity. This will make it possible (i) to improve our understanding of the consequences of using a particular distribution and, in certain cases, (ii) to introduce our hypotheses and knowledge about the random process in a more meaningful and intuitive way, thus providing a means to achieving distributions that would otherwise be hardly imaginable or justifiable.

    Veres Ferrer, Ernesto Jesús Pavía Miralles, José Manuel 2014 On the relationship between the reversed hazard rate and elasticity Statistical Papers 55 2 275 284
distribuït sota llicència Creative Commons de Reconeixement-NoComercial 3.0 No adaptada

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