RDP 2015-10: The Life of Australian Banknotes
Equation
θ
(
t
)
=
l
(
t
)
1
−
L
(
t
)
=
l
(
t
)
S
(
t
)
=
p
e
x
′
β
/
k
k
λ
(
e
x
′
β
/
k
t
λ
)
k
−
1
(
e
−
(
e
x
′
β
/
k
t
λ
)
k
)
p
(
e
−
(
e
x
′
β
/
k
t
λ
)
k
)
+
(
1
−
p
)
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