Olivieri, Annamaria; Pitacco, Ermanno - In: Risks : open access journal 4 (2016) 4, pp. 1-23
more important issue that we address. In actuarial practice, the different mortality levels of the several risk classes are … obtained by applying adjustment coefficients to population mortality rates. Such a choice is not supported by a rigorous model …. On the other hand, the heterogeneity of a population with respect to mortality can formally be described with a frailty …
