In this paper we study a model of interacting dark energy - dark matter where the ratio between these components is not constant, changing from early to late times in such a way that the model can solve or alleviate the cosmic coincidence problem (CP). The interaction arises from an assumed relation of the form $rho_xproptorho_d^alpha$, where $rho_x$ and $rho_d$ are the energy densities of dark energy and dark matter components, respectively, and $alpha$ is a free parameter. For a dark energy equation of state parameter $w=-1$ we found that, if $alpha=0$, the standard $Lambda$CDM model is recovered, where the coincidence problem is unsolved. For $0<alpha<1$, the CP would be alleviated and for $alphasim 1$, the CP would be solved. The dark energy component is analyzed with both $w=-1$ and $w eq -1$. Using Supernovae type Ia and Hubble parameter data constraints, in the case $w=-1$ we find $alpha=0.109^{+0.062}_{-0.072}$ at 68% C.L., and the CP is alleviated. This model is also slightly favoured against nonflat $Lambda$CDM model by using a Bayesian Information Criterion (BIC) analysis. For $w eq-1$, a degeneracy arises on the $w$ - $alpha$ plane. In order to break such degeneracy we add cosmic microwave background distance priors and baryonic acoustic oscillations data to the constraints, yielding $alpha=-0.075pm 0.046$ at 68% C.L.. In this case we find that the CP is not alleviated even for 2$sigma$ interval for $alpha$. Furthermore, this last model is discarded against nonflat $Lambda$CDM according to BIC analysis.
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