Forecasting, interventions and selection: the benefits of a causal mortality model

IF 0.8 Q4 BUSINESS, FINANCE
Snorre Jallbjørn, Søren F. Jarner, Niels R. Hansen
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引用次数: 0

Abstract

Integrating epidemiological information into mortality models has the potential to improve forecasting accuracy and facilitate the assessment of preventive measures that reduce disease risk. While probabilistic models are often used for mortality forecasting, predicting how a system behaves under external manipulation requires a causal model. In this paper, we utilize the potential outcomes framework to explore how population-level mortality forecasts are affected by interventions, and discuss the assumptions and data needed to operationalize such an analysis. A unique challenge arises in population-level mortality models where common forecasting methods treat risk prevalence as an exogenous process. This approach simplifies the forecasting process but overlooks (part of) the interdependency between risk and death, limiting the model’s ability to capture selection-induced effects. Using techniques from causal mediation theory, we quantify the selection effect typically missing in studies on cause-of-death elimination and when analyzing actions that modify risk prevalence. Specifically, we decompose the total effect of an intervention into a part directly attributable to the intervention and a part due to subsequent selection. We illustrate the effects with U.S. data.

Abstract Image

预测、干预和选择:因果死亡率模型的益处
将流行病学信息纳入死亡率模型有可能提高预测的准确性,并有助于评估降低疾病风险的预防措施。虽然概率模型常用于死亡率预测,但预测一个系统在外部操纵下的行为需要一个因果模型。在本文中,我们利用潜在结果框架来探讨人口层面的死亡率预测如何受到干预措施的影响,并讨论了进行此类分析所需的假设和数据。在人口级死亡率模型中会出现一个独特的挑战,即常见的预测方法将风险流行率视为一个外生过程。这种方法简化了预测过程,但忽略了风险与死亡之间的(部分)相互依存关系,限制了模型捕捉选择诱导效应的能力。利用因果中介理论的技术,我们量化了在消除死因的研究中以及在分析改变风险发生率的行动时通常缺失的选择效应。具体来说,我们将干预措施的总效应分解为可直接归因于干预措施的部分和可归因于后续选择的部分。我们用美国的数据来说明其效果。
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来源期刊
European Actuarial Journal
European Actuarial Journal BUSINESS, FINANCE-
CiteScore
2.30
自引率
8.30%
发文量
35
期刊介绍: Actuarial science and actuarial finance deal with the study, modeling and managing of insurance and related financial risks for which stochastic models and statistical methods are available. Topics include classical actuarial mathematics such as life and non-life insurance, pension funds, reinsurance, and also more recent areas of interest such as risk management, asset-and-liability management, solvency, catastrophe modeling, systematic changes in risk parameters, longevity, etc. EAJ is designed for the promotion and development of actuarial science and actuarial finance. For this, we publish original actuarial research papers, either theoretical or applied, with innovative applications, as well as case studies on the evaluation and implementation of new mathematical methods in insurance and actuarial finance. We also welcome survey papers on topics of recent interest in the field. EAJ is the successor of six national actuarial journals, and particularly focuses on links between actuarial theory and practice. In order to serve as a platform for this exchange, we also welcome discussions (typically from practitioners, with a length of 1-3 pages) on published papers that highlight the application aspects of the discussed paper. Such discussions can also suggest modifications of the studied problem which are of particular interest to actuarial practice. Thus, they can serve as motivation for further studies.Finally, EAJ now also publishes ‘Letters’, which are short papers (up to 5 pages) that have academic and/or practical relevance and consist of e.g. an interesting idea, insight, clarification or observation of a cross-connection that deserves publication, but is shorter than a usual research article. A detailed description or proposition of a new relevant research question, short but curious mathematical results that deserve the attention of the actuarial community as well as novel applications of mathematical and actuarial concepts are equally welcome. Letter submissions will be reviewed within 6 weeks, so that they provide an opportunity to get good and pertinent ideas published quickly, while the same refereeing standards as for other submissions apply. Both academics and practitioners are encouraged to contribute to this new format. Authors are invited to submit their papers online via http://euaj.edmgr.com.
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