Transition of social welfare in the European country clubs

Christodoulakis, George A and Mamatzakis, Emmanuel C (2010) Transition of social welfare in the European country clubs. Economics Letters, 108 (2). pp. 178-180. ISSN 01651765

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This paper presents a fully Bayesian approach that simultaneously combines non-overlapping (in time) basic event and higher-level event failure data in fault tree quantification. Such higher-level data often correspond to train, subsystem or system failure events. The fully Bayesian approach also automatically propagates the highest-level data to lower levels in the fault tree. A simple example illustrates our approach. The optimal allocation of resources for collecting additional data from a choice of different level events is also presented. The optimization is achieved using a genetic algorithm.

Item Type: Article
Schools and Departments: University of Sussex Business School > Business and Management
Depositing User: Emmanuel Mamatzakis
Date Deposited: 06 Feb 2012 20:06
Last Modified: 06 Jun 2012 11:49
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