A customer's utility measure based on the reliability of multi-state systems

DOI10.1007/s10203-010-0105-8zbMath1213.91066OpenAlexW1998592300MaRDI QIDQ538269

Raimondo Manca, Guglielmo D'Amico, Giuseppe Di Biase

Publication date: 25 May 2011

Published in: Decisions in Economics and Finance (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s10203-010-0105-8

zbMATH Keywords

preferencesutility functionsaccumulated discounted utilitybackward processesnon-homogeneous semi-Markov processesrewards processes

Mathematics Subject Classification ID

Utility theory (91B16) Applications of renewal theory (reliability, demand theory, etc.) (60K10)

Cites Work

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• Initial and final backward and forward discrete time non-homogeneous semi-Markov credit risk models
• An algorithmic approach to discrete time non-homogeneous backward semi-Markov reward processes with an application to disability insurance
• Semi-Markov Risk Models for Finance, Insurance and Reliability
• Stochastic Models in Reliability
• Applied Semi-Markov Processes
• Statistical models based on counting processes

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