Optimal annuitization, uncertain survival probabilities, and maxmin preferences
Article dans une revue: 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; we show that it is optimal not to annuitize but to purchase pure life insurance policies instead.
Auteur(s)
Hippolyte d’Albis, Emmanuel Thibault
Revue
- Economics Letters
Date de publication
- 2012
Mots-clés JEL
Mots-clés
- Demand for annuities
- Uncertain survival probabilities
- Uncertainty aversion
- Maxmin
Pages
- 296-299
URL de la notice HAL
Version
- 1
Volume
- 115