The Lee-Carter model under Bayesian analysis : Markov Chain Monte Carlo simulation with WinBUGS.

• Main Authors: Tan, Chong It., Lu, Xin., Chong, Zi Kent.
• Other Authors: Li Ka Ki Jackie
• Format: Final Year Project
• Language: English
• Published: 2010
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/33720
• Institution: Nanyang Technological University

Mortality improvement has become a significant concern in mortality projections because it directly affects the risk in life insurance business. As such, the Lee-Carter model that uses a stochastic framework is preferred against other deterministic models because of its allowance for the associated...