The main goal of this article is to generalize the bivariate lack-of-memory property introduced in Marshall & Olkin (1967). Several characterizations of bivariate continuous distributions possessing such a property are established and illustrated by examples.

In this paper, we apply the idea of $k$-local contraction of \cite{zec, zet} to study discounted stochastic dynamic programming models with unbounded returns. Our main results concern the existence of a unique solution to the Bellman equation and are applied to the theory of stochastic optimal...

We analyse the point availability of a repairable duplex system characterized by cold standby and by a priority rule. The system is attended by two (general) heterogeneous repairmen. To describe the random behaviour of the system, we introduce a stochastic process endowed with probability...

Motivated by the observation that for a sample of size two from an exponential distribution, the largest order statistic is distributed as a convolution of two independent exponential random variables with distributions differing only in their intensity or rate parameter, a spectrum of related...