“Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that persons who enter early into insurance contracts are on the average of a different type and have a different distribution of death ages from persons from persons admitted to the insurance at a more advanced age.”

— Richard von Mises

First Lecture, The Definition of Probability, p. 18
Probability, Statistics And Truth - Second Revised English Edition - (1957)

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Richard von Mises20

Austrian physicist and mathematician 1883–1953

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