Abstract: A new method to generate various family of distributions is introduced. This method introduces a new two-parameter extension of the exponential distribution to illustrate its application. Some statistical and reliability properties of the new distribution, including explicit expressions for the moments, quantiles, mode, moment generating function, mean residual lifetime, stochas...

This paper discusses the preservation of some stochastic orders between two interdependent series and parallel systems when the survival and distribution functions of all components switch to the exponentiated model. For the series systems, the likelihood ratio, hazard rate, usual, aging faster, aging intensity, convex transform, star, superadditive and dispersive orderings, and for the paralle...

Scheduling is a core activity in the manufacturing business. It assists with the efficient and effective utilisation of capital-intensive resources and increased throughput, thus increasing profitability. Simulation is appealing in manufacturing, as it can realistically imitate dynamic, stochastic processes while being descriptive in predicting the future process. We combined simulation and sch...

Second-order stochastic dominance answers the question “Under what conditions will all risk-averse agents prefer x̃2 to x̃1?” Consider the following related question: “Under what conditions will all risk-averse agents who prefer lottery x̃1 to a reference lottery ω̃ also prefer lottery x̃2 to that reference lottery?” Each of these two questions is an example of a broad category of questions of great...

The paper proposes both statistical and simulation-based analysis and evaluation of the bullwhip effect in supply chains. The demand distortion, called the bullwhip effect, is considered as an important characteristic of supply chain operation stability. A mathematical justification of the stochastic demand as a cause of the bullwhip effect is discussed. Results of simulation studies to analyse...

Program: 1. Fabrizio Durante (Free University of Bozen–Bolzano, Italy) Multivariate copulas with hairpin support 2. Piotr Jaworski (University of Warsaw, Poland) Copulas of self–similar Ito diffusions 3. Franco Pellerey (Politecnico di Torino, Italy) Univariate stochastic orders and joint stochastic orders: conditions on the copula for mutual relationships 4. Giovanni Puccetti (University of Fi...

This paper analyzes monotone comparative statics predictions in several classes of stochastic optimization problems. The main results characterize necessary and sufficient conditions for comparative statics predictions to hold based on properties of primitive functions, that is, utility functions and probability distributions. The results apply when the primitives satisfy one of the following t...