Stochastic Orders and Their Applications

Stochastic orders and inequalities are being used at an accelerated rate in many diverse areas of probability and statistics. This book provides the first unified, systematic and accessible treatment of stochastic orders, addressing the growing importance of these orders with the presentation of numerous results that illustrate their usefulness and applicability. Eleven insightful chapters emphasise the applications by specialists in probability and statistics, economics, operations research and reliability theory. Applications include multivariate variability, epidemics, comparisons of risk and risk aversion, scheduling and systems reliability theory.