Shock models based on renewal processes with matrix Mittag-Leffler distributed inter-arrival times (Q6073146)

Concrete engineering, economic systems, etc., may be subject to certain internal or external shocks or impulses. Known mathematical shock models are based on stochastic point processes such as renewal processes. For deriving new models in this field and the corresponding methodology, counting processes based on heavy-tailed distributions, such as fractional homogeneous Poisson process (FHPP) and renewal processes with matrix Mittag-Leffler distributed inter-arrival times (RPMML), are considered. Moreover, the distribution of the lifetime of a system for some shock model and the generalized run shock model are discussed. Finally, applications to optimal replacement and the optimal mission duration are given, where the obtained shock models are discussed for systems that can fail due to impact of external shocks that occur according to the RPMML The processes FHPP and RPMML are very useful in modeling extreme events in real-life applications where the inter-arrival times are heavy tailed.