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Journal of Public Economic Theory, 2017 AbstractIn this paper, we consider illiquid life annuity contracts and show that they may be preferred to those illustrated by Yaari. In an overlapping generations economy, liquid life annuities are demanded only if the equilibrium is dynamically inefficient.
d'Albis, Hippolyte, Etner, Johanna
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Ambiguous life expectancy and the demand for annuities [PDF]
Theory and Decision, 2018 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Hippolyte D’Albis, Emmanuel Thibault
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The Geometry of Life Annuities
The Manchester School, 1999Straightforward geometry can be used to explain the role for life annuities in smoothing individual consumption during retirement. In the aggregate, there is a surprising analogy with a standard diagram from trade theory. That diagram takes careful account of the government revenues forgone when there is a move from tariffs to free trade.
Geoffrey Kingston, John Piggott
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2009
Abstract Great attention is currently devoted to the management of life annuity portfolios, both from a theoretical and a practical point of view, because of the growing importance of annuity benefits paid by private pension schemes.
Ermanno Pitacco +3 more
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Abstract Great attention is currently devoted to the management of life annuity portfolios, both from a theoretical and a practical point of view, because of the growing importance of annuity benefits paid by private pension schemes.
Ermanno Pitacco +3 more
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No-arbitrage pricing for life insurance and annuities
Economics Letters, 1999zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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2006
In recent years interest in the underwriting of annuity products has been growing steadily. It is a very different proposition compared to the underwriting of life assurance products. Whereas life assurance provides cover against the risk of dying too soon, annuities cover against the risk of not dying soon enough.
Geoffrey H. Robb, Richard Willets
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In recent years interest in the underwriting of annuity products has been growing steadily. It is a very different proposition compared to the underwriting of life assurance products. Whereas life assurance provides cover against the risk of dying too soon, annuities cover against the risk of not dying soon enough.
Geoffrey H. Robb, Richard Willets
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On the Analogy between an Annuity-Certain and a Life Annuity
Journal of the Institute of Actuaries and Assurance Magazine, 1878The strict analogy which exists between these two classes of annuities has doubtless received the consideration of the majority of students, but I am not aware that it has ever in print had that attention which it deserves; and at any rate our usual text books hardly even refer to it.
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1997
The s-years deferred life capital (or pure endowment of duration s) on the life x is the time-capital $$ {}_S{N_X}^{oo}: = \left( {{1_{X \uparrow S}},s} \right). $$
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The s-years deferred life capital (or pure endowment of duration s) on the life x is the time-capital $$ {}_S{N_X}^{oo}: = \left( {{1_{X \uparrow S}},s} \right). $$
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2002
In Chapter 1, when we discussed some aspects of financial mathematics, the cash flows we studied consisted of payments whose timing and size were fixed in advance. However, we have already pointed out that it is possible to make payments dependable on death or survival of a person.
A. K. Gupta, T. Varga
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In Chapter 1, when we discussed some aspects of financial mathematics, the cash flows we studied consisted of payments whose timing and size were fixed in advance. However, we have already pointed out that it is possible to make payments dependable on death or survival of a person.
A. K. Gupta, T. Varga
openaire +1 more source