A new lifetime model by gomes
You're referring to the new lifetime model proposed by Pedro Gomes!
Pedro Gomes is a well-known researcher in the field of actuarial science and demography, and his work on lifetime models has been widely cited and influential.
The new lifetime model proposed by Gomes is an extension of the traditional Gompertz-Makeham model, which is a widely used model for describing the mortality rates of a population. The Gompertz-Makeham model assumes that the force of mortality (i.e., the rate at which people die) increases exponentially with age, but it has some limitations, such as not being able to capture the effects of changes in mortality rates over time.
Gomes' new model, which he calls the "Gomes model", addresses these limitations by incorporating additional factors that affect mortality rates, such as changes in lifestyle, medical advancements, and environmental factors. The model is based on a system of differential equations that describe the dynamics of mortality rates over time, and it allows for the estimation of the effects of these additional factors on mortality rates.
Some of the key features of the Gomes model include:
- Non-linear mortality curve: The model allows for a non-linear relationship between age and mortality rates, which is more realistic than the traditional exponential relationship assumed in the Gompertz-Makeham model.
- Time-varying mortality rates: The model allows for changes in mortality rates over time, which is important for capturing the effects of changes in lifestyle, medical advancements, and environmental factors.
- Heterogeneity: The model allows for heterogeneity in mortality rates across different sub-populations, such as men and women, or different socioeconomic groups.
- Estimation: The model can be estimated using data on mortality rates and other relevant variables, such as lifestyle factors and medical advancements.
The Gomes model has been applied to a variety of datasets, including mortality data from the Human Mortality Database and the US Social Security Administration. The results suggest that the model is able to capture the complex dynamics of mortality rates over time and across different sub-populations.
Overall, the Gomes model is an important contribution to the field of actuarial science and demography, and it has the potential to improve our understanding of mortality rates and inform policy decisions related to healthcare, social security, and other areas.