Life and Death in Continuous Time: Gompertz 101
Continuing from where the prior Chap. 7 left off, this chapter explains how to construct and work with (a.k.a. cook) the remaining lifetime random variable: Tx. The approach to lifetime randomness is based on the underlying mortality hazard rate λx, whic
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Moshe Arye Milevsky
Retirement Income Recipes in R From Ruin Probabilities to Intelligent Drawdowns
Use R! Series Editors Robert Gentleman, 23andMe Inc., South San Francisco, USA Kurt Hornik, Department of Finance, Accounting and Statistics, WU Wirtschaftsuniversität Wien, Vienna, Austria Giovanni Parmigiani, Dana-Farber Cancer Institute, Boston, USA
Use R! This series of inexpensive and focused books on R will publish shorter books aimed at practitioners. Books can discuss the use of R in a particular subject area (e.g., epidemiology, econometrics, psychometrics) or as it relates to statistical topics (e.g., missing data, longitudinal data). In most cases, books will combine LaTeX and R so that the code for figures and tables can be put on a website. Authors should assume a background as supplied by Dalgaard’s Introductory Statistics with R or other introductory books so that each book does not repeat basic material.
More information about this series at http://www.springer.com/series/6991
Moshe Arye Milevsky
Retirement Income Recipes in R From Ruin Probabilities to Intelligent Drawdowns
123
Moshe Arye Milevsky Schulich School of Business York University Toronto, ON, Canada
ISSN 2197-5736 ISSN 2197-5744 (electronic) Use R! ISBN 978-3-030-51433-4 ISBN 978-3-030-51434-1 (eBook) https://doi.org/10.1007/978-3-030-51434-1 © Springer Nature Switzerland AG 2020 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Fames est optimus coquus . . .
Preface
This book is primarily intended for use as a supplementary college or university textbook, typically for a 12-week elective course on computational problems in personal wealth management, with a focus on retirement income planning. That
