Methods for generating new families of continuous univariate distributions
摘要
In this work we focus on a recently introduced family of continuous univariate distributions which involves two functions, g (generator) and h (parametric part) satisfying appropriate conditions. We first discuss methods to generate new members of the family by combining different parametric parts h or different generators g. We also present a technique to generate new families by transforming g and introduce a transformed family. In the sequel, we study the failure rate and tail behaviour of the families obtained by the aforementioned techniques. Finally, we demonstrate how the new theoretical framework can be exploited for constructing new distributional models with desirable properties in terms of failure rate and tail behaviour, which can be profitably exploited in actuarial science and engineering.