In survival analysis, the proportional hazard model (PHM) was introduced by Cox (1972) in order to estimate the effects of different covariates influencing the times-to-event data. The PHM has been used extensively in biomedicine, reliability engineering and, recently, interest in its...

In econometrics, Autoregressive Conditional Duration (ACD) models use high-frequency economic or financial duration data, which mostly exhibit irregular time intervals. The ACD model is widely used to examine the duration of transaction volume and duration of price variations in stock markets....

This paper describes a semiparametric Bayesian method for analyzing duration data. The proposed estimator specifies a complete functional form for duration spells, but allows flexibility by introducing an individual heterogeneity term, which follows a Dirichlet mixture distribution. I show how...