From Halley to Frailty: A Review of Survival Models for Actuarial Calculations
University of Trieste - Dipartimento di Scienze Economiche, Aziendali, Matematiche e Statistiche B. de Finetti
Giornale dell'Istituto Italiano degli Attuari
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.
Number of Pages in PDF File: 27
Keywords: Early actuarial models, Mortality laws, Multistate models, Heterogeneity, Mortality projections
JEL Classification: C00, G22
Date posted: June 14, 2005