Construct · 1 fields · 1 citations

multiple state model: a standalone construct

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Actuarial science

representing life and health insurance contracts as transitions among states such as active, disabled and dead, governed by a Markov chain.

In actuarial science, multiple state model refers to representing life and health insurance contracts as transitions among states such as active, disabled and dead, governed by a Markov chain. This meaning comes from Hoem (1969) in Blätter der DGVFM.[1]

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Nearby constructs

chain3 fields · 3 citationsjingle · one word, three constructs Markov chain1 fields · 3 citationsanchor · a standalone construct model3 fields · 3 citationsjingle · one word, three constructs

References

Hoem, J. M. (1969). Markov Chain Models in Life Insurance. Blätter der DGVFM, 9(2), 91-107. https://doi.org/10.1007/bf02810082

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