| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27677 |
| 来源ID | Working Paper 27677 |
| Survival Pessimism and the Demand for Annuities | |
| Cormac O'; Dea; David Sturrock | |
| 发表日期 | 2020-08-17 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The "annuity puzzle" refers to the fact that annuities are rarely purchased despite the longevity insurance they provide. Most explanations for this puzzle assume that individuals have accurate expectations about their future survival. We provide evidence that individuals misperceive their mortality risk, and study the demand for annuities in a setting where annuities are priced by insurers on the basis of objectively-measured survival probabilities but in which individuals make purchasing decisions based on their own subjective survival probabilities. Subjective expectations have the capacity to explain significant rates of non-annuitization, yielding a quantitatively important explanation for the annuity puzzle. |
| 主题 | Microeconomics ; Households and Firms ; Economics of Information ; Behavioral Economics ; Labor Economics ; Demography and Aging |
| URL | https://www.nber.org/papers/w27677 |
| 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/585349 |
| 推荐引用方式 GB/T 7714 | Cormac O',Dea,David Sturrock. Survival Pessimism and the Demand for Annuities. 2020. |
| 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 | ||
| w27677.pdf（452KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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