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Performance of a Random Number of Complex Systems in the Environment of a Random Number of Competing

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  • Constantinos T. Artikis

Abstract

The paper makes use of the concept of a random sum of nonnegative random variables and the concept of a minimum of a random number of nonnegative random variables in order to formulate a stochastic model. Sufficient conditions for embedding the formulated stochastic model into an important class of stochastic models are also established. Moreover, the paper establishes applications of the model in investigating the performance of a random number of complex systems being in the environment of a random number of competing and catastrophic information risks.

Suggested Citation

  • Constantinos T. Artikis, 2008. "Performance of a Random Number of Complex Systems in the Environment of a Random Number of Competing," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 73-82.
    • Handle: RePEc:ers:journl:v:xi:y:2008:i:3:p:73-82
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    File URL: http://www.ersj.eu/repec/ers/papers/08_3_p5.pdf
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    References listed on IDEAS

    as
    1. Paul Embrechts & Sidney Resnick & Gennady Samorodnitsky, 1999. "Extreme Value Theory as a Risk Management Tool," North American Actuarial Journal, Taylor & Francis Journals, vol. 3(2), pages 30-41.
    2. Lisa Meulbroek, 2002. "The Promise and Challenge of Integrated Risk Management," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 5(1), pages 55-66, September.
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    More about this item

    Keywords

    Performance; Risk; System; Information;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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