Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 陈伟森教授 (金融学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1093/lpr/mgr021 |
引用次数
Scopushttp://aims.cuhk.edu.hk/converis/portal/Publication/0Scopus source URL
其它资讯
摘要In personal injury litigation, claimants may seek their compensation for future losses or expenses as a lump sum that is determined by the product of a multiplicand and a multiplier. The multiplicand represents the annual loss in earnings and other benefits, as assessed at the trial date, while the multiplier discounts future pecuniary values into a single present-day lump sum amount. At present, multipliers in the UK are calculated using actuarial methods and based on assumed mortality and interest rates. However, it is entirely possible that these assumptions are incorrect, and if they are, then all claimants who rely on the same set of actuarial multipliers will be affected. In this article, we investigate how the uncertainty surrounding mortality and interest rate assumptions affects the precision of actuarial multipliers. With the aid of stochastic models, we estimate the possible range of values that an actuarial multiplier can take. ? The Author 2http://aims.cuhk.edu.hk/converis/portal/Publication/011. Published by Oxford University Press. All rights reserved.
着者Chan F.W.H., Chan W., Li J.S.H.
期刊名称Law, Probability and Risk
出版年份2http://aims.cuhk.edu.hk/converis/portal/Publication/012
月份3
日期21
卷号11
期次1
出版社Bell & Bain Ltd
出版地United Kingdom
页次25 - 39
国际标準期刊号147http://aims.cuhk.edu.hk/converis/portal/Publication/0-8396
语言英式英语
关键词Interest rate risk, Longevity risk, Multipliers, Ogden tables, Stochastic modelling
