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D'Albis, Hippolyte
and Thibault, Emmanuel
(2012)
Optimal annuitization, uncertain survival probabilities, and maxmin preferences.
Economics Letters, vol.115 (n°2).
pp. 296-299.
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Official URL : http://tse-fr.eu/pub/25827
Identification Number : 10.1016/j.econlet.2011.12.045
Abstract
We consider a life-cycle model with bequest motives, and assume that the individual does not know
his/her survival probability and has maxmin utility preferences;weshow that it is optimal not to annuitize
but to purchase pure life insurance policies instead.
| Item Type: | Article |
|---|---|
| Language: | English |
| Date: | May 2012 |
| Refereed: | Yes |
| Uncontrolled Keywords: | Demand for annuities, Uncertain survival probabilities, Uncertainty aversion, Maxmin |
| JEL Classification: | D11 - Consumer Economics - Theory D81 - Criteria for Decision-Making under Risk and Uncertainty G11 - Portfolio Choice; Investment Decisions G22 - Insurance; Insurance Companies |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Site: | UT1 |
| Date Deposited: | 09 Jul 2014 17:25 |
| Last Modified: | 02 Apr 2021 15:47 |
| OAI Identifier: | oai:tse-fr.eu:25827 |
| URI: | https://publications.ut-capitole.fr/id/eprint/15286 |
