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Reliability interpretations of some concepts from economics

✍ Scribed by Bengt Klefsjö

Publisher
John Wiley and Sons
Year
1984
Tongue
English
Weight
363 KB
Volume
31
Category
Article
ISSN
0894-069X

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✦ Synopsis

In a recent article, Chandra and Singpunvalla have pointed out the close relationship between the Lorenz curve, which is frequently used when illustrating income distributions in economics, and the total-time-on-test transform (TTT transform), which has proved to be a very useful tool in reliability. They also presented some characterizations of aging properties by using the Lorenz curve. The purpose of this article is to point out some further results in the same area and to give reliability interpretations of some common measures of income inequality.

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