| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23648 |
| 来源ID | Working Paper 23648 |
| Survival Ambiguity and Welfare | |
| Frank N. Caliendo; Aspen Gorry; Sita Slavov | |
| 发表日期 | 2017-08-07 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Nearly all life-cycle models adopt Yaari's (1965) assumption that individuals know the survival probabilities that they face. Given that an individual's exact survival probabilities are likely unknown, we explore the implications of relaxing this assumption. If there is no annuity market, then the welfare cost of survival ambiguity is large and regressive. Individuals would pay as much as 1% of total lifetime consumption for immediate resolution of ambiguity and the bottom income quintile is 4 times worse off than the top quintile. Alternatively, with the availability of competitive annuity contracts, survival ambiguity is welfare improving because it allows competitive insurance companies to pool risk across survival types. Even though Social Security and annuities share some properties, Social Security does not help to hedge survival ambiguity. |
| 主题 | Microeconomics ; Economics of Information ; Behavioral Economics ; Public Economics ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w23648 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581322 |
| 推荐引用方式 GB/T 7714 | Frank N. Caliendo,Aspen Gorry,Sita Slavov. Survival Ambiguity and Welfare. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23648.pdf（281KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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