Optimal annuitization, uncertain survival probabilities, and maxmin preferences
نویسندگان
چکیده
منابع مشابه
Optimal Aggregation of Uncertain Preferences
A paradigmatic problem in social choice theory deals with the aggregation of subjective preferences of individuals — represented as rankings of alternatives — into a social ranking. We are interested in settings where individuals are uncertain about their own preferences, and represent their uncertainty as distributions over rankings. Under the classic objective of minimizing the (expected) sum...
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At, or about, the age of retirement, most individuals must decide what additional fraction of their marketable wealth, if any, should be annuitized. Annuitization means purchasing a nonrefundable life annuity from an insurance company, which then guarantees a lifelong consumption stream that cannot be outlived. The decision of whether or not to annuitize additional liquid assets is a difficult ...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2012
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2011.12.045