Cohort

Abstract

Abstract A cohort is a group of subjects, identified by a common characteristic, which is studied over a period of time with respect to an outcome – event of interest. The defining characteristic is often year of birth. The event of interest may be death or disease onset or generally any event that possesses a well‐defined intensity of occurrence. In actuarial science, purchase of a life or medical insurance policy may play the role of defining characteristic – death or insurance claim is the event of interest in this case. On the other hand, marketing of insurance products may require a study of birth cohorts with respect to purchasing life or medical insurance. Here, obviously the purchase is the event of interest.