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Reliability interpretations of some concepts from economics

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  • Bengt Klefsjö

Abstract

In a recent article, Chandra and Singpurwalla 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.

Suggested Citation

  • Bengt Klefsjö, 1984. "Reliability interpretations of some concepts from economics," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 31(2), pages 301-308, June.
    • Handle: RePEc:wly:navlog:v:31:y:1984:i:2:p:301-308
    DOI: 10.1002/nav.3800310212
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