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Renewal ProcessesExtensions and Applications

Renewal Processes: Extensions and Applications [This chapter is devoted to some extensions and applications of renewal theory. First, we discuss the renewal theorems in the case where the underlying mean is infinite. We proceed by a short discussion of alternating renewal processes. In order to discuss renewal reward processes and superposed renewal processes, we need some basic properties of bivariate renewal theory. The chapter ends with some important applications of renewal theory in different areas of stochastic processes.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Renewal ProcessesExtensions and Applications

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Publisher
Springer International Publishing
Copyright
© The Author(s) 2014
ISBN
978-3-319-05854-2
Pages
67 –116
DOI
10.1007/978-3-319-05855-9_3
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter is devoted to some extensions and applications of renewal theory. First, we discuss the renewal theorems in the case where the underlying mean is infinite. We proceed by a short discussion of alternating renewal processes. In order to discuss renewal reward processes and superposed renewal processes, we need some basic properties of bivariate renewal theory. The chapter ends with some important applications of renewal theory in different areas of stochastic processes.]

Published: Apr 24, 2014

Keywords: Infinite mean interarrival times; Renewal theorems; Lifetime processes; Dynkin-Lamperti theorem; Superposition of renewal processes; Alternating renewal processes; Renewal reward processes; Queuing models; Insurance models

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