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FICUF[ 7<br />

Cons tant proportional I oss<br />

nodel<br />

F IGURE 8<br />

Phi - i ndex model<br />

F IGUPE ?<br />

Vari at''le proporti onal loss<br />

mod el<br />

r"-.1<br />

stols (see Ftgure 8) . qhe tl{o Palaneters of th19 nodel<br />

are DEPSTO allat 0, 0 betng flxed by votuse forcing if<br />

DEPSTO ls calculated from equatlon 4.3.<br />

(1I1) rhe varlabt€ Propolltonal loss Dodel, whlch uses a<br />

ttorton-tipe .guallon to al'low fo! a hlgher Propolllon<br />

of losa at the begr.nnlng of the gtorD than at tlte end<br />

(see Flgnrre 9) ' the fractlon of }oes 1a glven lry!<br />

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