On the Public Economics of Annuities with Differential Mortality

Bommier, Antoine, Leroux, Marie-Louise and Lozachmeur, Jean-Marie (2009) On the Public Economics of Annuities with Differential Mortality. TSE Working Paper, n. 09-021, Toulouse

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Official URL: http://tse-fr.eu/pub/22267

Abstract

This paper studies the problem of redistribution between individuals having different mortality rates. We use a continuous time model in which there are two types of individuals characterized by different survival probability paths. Individual preferences are represented by a generalized life cycle utility function which can exhibit temporal risk aversion. We successively compare utilitarian allocations when individuals exhibit temporal risk neutrality and temporal risk aversion. This problem is analyzed successively in the context of full information and asymmetric information on mortality rates.

Item Type: Monograph (Working Paper)
Language: English
Date: March 2009
Place of Publication: Toulouse
JEL codes: H23 - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
H55 - Social Security and Public Pensions
I31 - General Welfare; Basic Needs; Living Standards; Quality of Life; Happiness
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Institution: Université Toulouse 1 Capitole
Site: UT1
Date Deposited: 18 Jan 2012 06:01
Last Modified: 19 Mar 2018 15:35
OAI ID: oai:tse-fr.eu:22267
URI: http://publications.ut-capitole.fr/id/eprint/3301

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