“…Indeed, this representation is quite convenient for IR models (cf. Doyen and Gaudoin, 2004;Lindqvist, 1998). Let F T n+1 |t 1 ,...,tn (t), f T n+1 |t 1 ,...,tn (t), λ T n+1 |t 1 ,...,tn (t), and Λ T n+1 |t 1 ,...,tn (t) be respectively the conditional cdf, pdf, hazard and cumulative hazard functions of T n+1 given that T 1 = t 1 , .…”