ThreeBearsBalancedWithText_2020
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main_variables
[discount_rates_problem] [main_variables]

There are 6 variables, namely random experience base, pricing approach, MV_margin, contract, inflation protection and assets portfolio.

A seventh variable (“stage”) is whether the initial pricing model is being considered or the required discount rate has been determined in order to produce the correct outcome (zero for the annuity or 10,000 in real terms for the endowment).