Degradation-based modeling methods have been recognized as an essential and effective
approach for lifetime and remaining useful life (RUL) estimations for various health …

It is still a challenge to study the degradation mechanisms of complex systems with multiple
performance characteristics. This paper develops a two-stage stochastic degradation model …

For degraded products with multiple performance characteristics (PCs), one way to model
their degradation process is by using a multivariate independent Wiener process model with …

The first-passage time is proposed as an independent thermodynamic parameter of the
statistical distribution that generalizes the Gibbs distribution. The theory does not include the …

First-passage times (FPTs) of two-dimensional Brownian motion have many applications in
quantitative finance. However, despite various attempts since the 1960s, there are few …

In this paper we characterize the distribution of the first exit time from an arbitrary open set
for a class of semi-Markov processes obtained as time-changed Markov processes. We …

Since diffusion processes arise in so many different fields, efficient technics for the
simulation of sample paths, like discretization schemes, represent crucial tools in applied …

Diffusion processes with boundaries are models of transport phenomena with wide
applicability across many fields. These processes are described by their probability density …

This paper proposes a degradation model for a two-unit series system, where the
components exhibit dependence and are subject to imperfect maintenance. The …

We study the first-exit-time problem for the two-dimensional Wiener and Ornstein–
Uhlenbeck processes through time-varying ellipses which run according to specific rules …