From Halley to Frailty: A Review of Survival Models for Actuarial Calculations
Giornale dell'Istituto Italiano degli Attuari
27 Pages Posted: 14 Jun 2005
Several contributions, which can be considered as landmarks in the evolution of survival modelling in actuarial mathematics, are focussed. The following topics are concerned: the development from deterministic to stochastic models, from an age-discrete to an age-continuous setting, from single-decrement to multiple-decrement models and to multistate models, from population homogeneity to population heterogeneity. Finally, the progress from static mortality to mortality projections is briefly addressed.
Keywords: Early actuarial models, Mortality laws, Multistate models, Heterogeneity, Mortality projections
JEL Classification: C00, G22
Suggested Citation: Suggested Citation