Actuarial exceptionalism

(May 19, 2012)

In an earlier posting I listed some actuarial terms and their statistical equivalents (and later a short list of statistical terms and their equivalents in other fields).  Using different expressions for the same concept is an unfortunate barrier to understanding across disciplines.  However, sometimes different disciplines need to use tools and methodologies in very different ways.  In this posting we look at why actuaries approach survival models in a different way to statisticians, especially those who routinely use survival models in medical trials.

The first difference between actuarial work and other disciplines begins with the data.  In a medical trial there is usually one record per person,

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Tags: survival models, left truncation

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