Toward a Hazard Rate Framework for Regular and Rapid Variation

Abstract

Regular and rapid variation have been extensively studied in the literature and applied across various fields, particularly in extreme value theory. In this paper, we examine regular and rapid variation through the lens of generalized hazard rates, with a focus on the behavior of survival and density functions of random variables. Motivated by the von Mises condition, our hazard rate based framework offers a unified approach that spans from slow to rapid variation, providing in particular new insights into the relationship between hazard rate functions and the right tail decays of random variables.