Abstract
Traditional survival analysis deals with functions of one variable, "time." This paper explains the case of multiple and interacting aging metrics by introducing the notion of a hazard vector field This approach is shown to provide a more general framework than traditional survival analysis, including the ability to model multi-dimensional censored data~ A simple example illustrates how Green's Theorem in the plane applies to evaluate and even to theoretically optimize a course of action. One evident application is to the evaluation and promulgation of claim administration protocols. Keywords: survival, vector field, hazard, gradient, line integral
Volume
Winter
Page
637-658
Year
2001
Categories
Actuarial Applications and Methodologies
Enterprise Risk Management
Processes
Treating/Exploiting Risks
Actuarial Applications and Methodologies
Reserving
Claims Handling
Financial and Statistical Methods
Risk Pricing and Risk Evaluation Models
Business Areas
Workers Compensation
Publications
Casualty Actuarial Society E-Forum