A Stochastic Model for Pensionable Service |
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| Authors: | G K Agrafiotis M Tsoukalas |
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| Institution: | 1. Department of Mathematics , University of Athens , Panepistemiopolis, Athens , Greece;2. Computer Science Program , The University of Texas , Dallas , USA |
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| Abstract: | Abstract In this paper, a stochastic model is developed for the prediction of the employee's cumulative pensionable service over his working life, as a function of his unemployment periods and his completed lengths of service, under a service requirement constraint. Distributional and first passagetime problems are considered for the total pensionable service and a generalized renewal equation is formally solved. Further useful results are obtained and numerical applications are given. |
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| Keywords: | pensionable service vested rule generalized renewal equation first passage-time |
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