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On the true Measure of the Probabilities of Survivorship between two Lives

Published online by Cambridge University Press:  28 May 2015

Extract

A good deal of misconception prevails, on the part of many interested in the science of life contingencies, in regard to the expressions usually assigned as the measures of the probabilities of the different orders of survivorship among two or more lives. It seems to be supposed that these expressions are little better than rude approximations, adopted from convenience or necessity, depending on no definite principles, and consequently giving results but little entitled to confidence. It appears to me that these notions are attributable, in no small degree, to the manner in which the expressions in question have been spoken of by the writers, Messrs. Morgan and Baily, by whom they were first deduced.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1849

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References

page 3 note * Doctrine of Assurances, second edition, p. 161, note xvii.

page 3 note † Doctrine of Life Annuities, p. 109, note.

page 6 note * Jones, p. 151.

page 10 note * Milne, p. 52. Mr. Milne's demonstration of the property here made use of has reference to entire years only; but the property is equally true of any portion of time.

page 13 note * I have however slightly modified the process to bring it into accordance with the foregoing investigations.