A cascading failure is a failure in a system of interconnected parts in which the failure of a part can trigger the failure of successive parts. Although an initial and introductory approach for probabilistic modeling and analysis of the cascading failures was suggested in the literature, any general framework and fundamental results have yet to be reported. In this paper, applying the point process approach, we suggest a general framework for modeling and analysis of the cascading failures. Furthermore, a new concept of 'information-based residual lifetime' will be defined and discussed.
- Cascading failure
- Information-based residual lifetime
- Risk measure
- Stochastic intensity
- κ-out-of-n system