The stochastic modelling of degradation processes requires different characteristics to be
considered, such that it is possible to capture all the possible information about a phenomenon under study. An important characteristic is what is known as the drift in some stochastic
processes; specifically, the drift allows to obtain information about the growth degradation rate of the characteristic of interest. In some phenomenon’s the growth rate cannot be
considered as a constant parameter, which means that the rate may vary from trajectory to
trajectory. Given this, it is important to study alternative strategies that allow to model this
variation in the drift. In this paper, several hazard rate functions are integrated in the inverse
Gaussian process to describe its drift in the aims of individually characterize degradation
trajectories. The proposed modelling scheme is illustrated in two case studies, from which
the best fitting model is selected via information criteria, a discussion of the flexibility of the
proposed models is provided according to the obtained results.
CITATIONS(2):
1.
The Wiener Process with a Random Non-Monotone Hazard Rate-Based Drift Luis Alberto Rodríguez-Picón, Luis Carlos Méndez-González, Luis Asunción Pérez-Domínguez, Héctor Eduardo Tovanche-Picón Mathematics
Searching for Determinism in Mobile Gravimetry Data Marek Przyborski, Marcin Serafin, Agata Załęska-Fornal, Jerzy Pyrchla, Krzysztof Pyrchla, Jakub Szulwic, Jacek Rudnicki Polish Maritime Research
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