Actuarial Applications of a two-parameter generalized Logistic model
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Date
2018-05-10
Authors
Alekberova, Nargiz
Journal Title
Journal ISSN
Volume Title
Publisher
Nazarbayev University School of Science and Technology
Abstract
This project presents a generalization of the classical logistic and the Gompertz model by using two parameter power law exponent. The suggested generalized with two parameters models was shown by numerical example to be potentially a better choice for fitting a certain data. The solutions of these models are used in terms of force of mortality function in actuarial math as insurance contingency models or as hazard function for quality control in science and engineering. The complexity of solution is presented in the form of hypergeometric function and corresponding to it nonlinear implicit regression analysis. Due to the mentioned complexity we develop the approximation of the actual solution and consider only its special cases.
Description
Keywords
rate-state equation, gompertz models, logistic models
Citation
Alekberova, Nargiz. (2018) Actuarial Applications of a two-parameter generalized Logistic model. Nazarbayev University School of Science and Technology