Volume 1

Observations on reversionary payments; on schemes for providing annuities for widows, and for persons in old age; on the method of calculating the values of assurances on lives; and on the national debt. Also, essays on different subjects in the doctrine of life-annuities and political arithmetic ... / by Richard Price. The whole new arranged, and enlarged ... by William Morgan.

  • Price, Richard, 1723-1791.
Date:
1812
Catalogue details

Licence: Public Domain Mark

Credit: Observations on reversionary payments; on schemes for providing annuities for widows, and for persons in old age; on the method of calculating the values of assurances on lives; and on the national debt. Also, essays on different subjects in the doctrine of life-annuities and political arithmetic ... / by Richard Price. The whole new arranged, and enlarged ... by William Morgan. Source: Wellcome Collection.

    263/474 (page 209)
    This hypothesis, I have observed, does not differ much from the Tables of Observation for Breslav, Northampton; and Norwich. Be- tween the ages of 30 and 40, it gives the va- lues of single lives almost the same with the BreslawTable. Under 30, it givés them sonié- what less: and above 40, somewhat greater. But it ought to be remembered, that where- ever it does this, it gives, at the same ages, the values of the Joint lives also too little or too great; and that, consequently, ‘the res sults from it, in calculating the values’ of Pe- versions, and of the longest of given lives, come so much nearer to exactness, / The rules to which I have objected are the only ones given by Mr. De Mowre, in all the editions of his Treatise on Life-Annuities. But it seems, this great mathematician be~ came at last sensible, that they were too jh. correct; and therefore, at the end of the Tast’' edition of his Treatise on the Doctrine of Chances, page 320, (a work which gets into’ comparatively few hands) he has given other rules which come hearer the truth. But even these rules produce errors so great in’ many: cases, (particularly when combined with the errors of the hypothesis) that it will - be best never to use them. VOL I. P POSTSCRIPT