An Empirical Assessment of Parametric Survival Functions for Modeling Longevity

Dennis Feehan, Princeton University

I present an analysis of the best available data on mortality at advanced ages, with the aim of updating and expanding our understanding of which of the functional forms commonly used to parameterize survival fit high-quality data on death rates over the age of 80 the best. This has been discussed at length in the literature, and is of importance to researchers and policymakers in a host of fields. I expand on the results of previous analyses by adding new data, considering more functional forms, and improving the strategy for assessing goodness of fit.