Optimal age replacement policies for network components such as cables, overhead lines or transformers are usually identified based on gathered knowledge about the state of a component and its stochastic deterioration process. In this context, uncertainty is an important challenge because...

Results of many previous studies on the rate of small business failure suggest an inverse relationship between size of business and propensity to fail. However, it has been suggested that this inverse relationship, between firm size and the rate of discontinuance, may more accurately be...

In winner-take-all tournaments, agents' performance is determined jointly by effort and luck, and the top performer is rewarded. We study the impact of the ''shape of luck'' -- the details of the distribution of performance shocks -- on incentives in such settings. We are concerned with the...

Reliability has been largely applied to industrial systems in order to study the various possibilities of systems’ failure. The goal is to establish the chain of events leading to any system’s failure, namely the top event. Looking for the minimal paths leading to any system’s fault allows...

The main research intent of this paper is to introduce the use of fault tree analysis (FTA) and failure mode and effects analysis (FMEA) in conjunction to analyse the risk and reliability of a complex mechatronic system in both qualitative and quantitative manner. The major focus is on handling...

The pricing's premium in an insurance for the health sector is influenced by the claims ratio of its subscribers, which generates high levels of fluctuation and uncertainty. The objective of this research is the application of the actuarial individual risk models, collective risk and credibility...

While executives emphasize that human resources (HR) are a firm's biggest asset, the level of research attention devoted to planning talent pipelines for complex global organizational environments does not reflect this emphasis. Numerous challenges exist in establishing human resource management...

In commodity transport networks such as natural gas, hydrogen and water networks, flows arise from nonlinear potential differences between the nodes, which can be represented by so-called potential-driven network models. When operators of these networks face increasing demand or the need to...

In this manuscript, the reliability of a robotic system has been analyzed using the available data (containing vagueness, uncertainty, etc). Quantification of involved uncertainties is done through data fuzzification using triangular fuzzy numbers with known spreads as suggested by system...

Tolerancing conducted by design engineers to meet customers' needs is a prerequisite for producing highquality products. Engineers use handbooks to conduct tolerancing. While use of statistical methods for tolerancing is not something new, engineers often use known distributions, including the...