Inferring association from reliability functions: an approach based on copulas (Q2244840)

The authors investigate the utility of the copula-based reliability functions in inferring the time-dependent association of bivariate distributions. They consider the Clayton measure of association for the study. A general expression for this measure in terms of the generator of Archimedean copulas is given, and a method of finding nature of association using the generators is provided. They derive the relationship of the association measure with the ageing property of the distribution, and analyze how the hazard rate of survival copulas can be utilized in studying the association between two random variables. Applications of the results in real life situations are discussed.