Orderings of the Smallest Claim Amounts from Exponentiated Location-Scale Models

In actuarial science, it is often of interest to compare stochastically extreme claim amounts from heterogeneous portfolios. In this regard, in the present work, we compare the smallest order statistics arising from two heterogeneous portfolios in the sense of the usual stochastic, hazard rate, reversed hazard rate and likelihood ratio orderings. We also consider the multiple-outlier model and obtain some ordering results. It is assumed that …