A law of uniform seniority for dependent lives

نویسندگان

چکیده

The law of uniform seniority is an actuarial principle which justifies the replacement annuity on joint lives unequal ages by a single life, often computed at different rate. Gompertz's mortality prime example distribution meets this condition. This paper proposes extension to case two dependent and relates it aging concepts. In important special bilinear averaging function, shown that lifetimes have dependence structure Archimedean marginal distributions from same scale family. leads both functional stochastic representations for these models, enjoy closure properties with respect some common operations. models are then discussed. challenges involved in multivariate also mentioned.

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ژورنال

عنوان ژورنال: Scandinavian Actuarial Journal

سال: 2021

ISSN: ['1651-2030', '0346-1238']

DOI: https://doi.org/10.1080/03461238.2021.1895299