During the past twenty years, there has been a rapid growth in life expectancy and an increased attention on funding for old age. Attempts to forecast improving life expectancy have been boosted by the development of stochastic mortality modeling, for example the Cairns–Blake–Dowd (CBD) 2006...

Noise is widely regarded as a residual category—the unexplained variance in a linear model or the random disturbance of a predictable pattern. Accordingly, formal models often impose the simplifying assumption that the world is noise-free and social dynamics are deterministic. Where noise...

We study a multiple period discount problem for products that undergo several price cuts over time. In the high-technology sector, electronic component suppliers are often able to offer pre-announced price cuts to buyers due to technological innovation that allows them to produce existing...

We consider random vectors drawn from a multivariate normal distribution and compute the sample statistics in the presence of stochastic correlations. For this purpose, we construct an ensemble of random correlation matrices and average the normal distribution over this ensemble. The resulting...