Results 61 to 70 of about 6,587,536 (188)
Fairness‐aware insurance pricing: A multi‐objective optimization approach
Journal of Risk and Insurance, EarlyView.Abstract Machine‐learning models can provide accurate predictions in insurance pricing, but can also increase disparities between protected groups. Existing fairness‐aware pricing approaches typically target one fairness notion at a time, making it difficult to compare trade‐offs between predictive accuracy, group fairness, individual fairness, and ...
Tim J. Boonen, Xinyue Fan, Zixiao Quan
wiley +1 more source
“Welfare Gains and Annuities Demand” [PDF]
This paper extends the annuity demand theory, giving new reasons for the small annuities demand. Regarding this problem, Yaari (1965) claims, under the condition that no one can die in debt, that a selfish consumer will fully annuitized her savings ...
Sanchez-Romero, Miguel
core
On the Exact Limiting Distribution of a Volatility Target Index
Mathematical Finance, EarlyView.ABSTRACT Assuming a lognormal distribution for the underlying risky asset, we study the limiting distribution of a volatility target index as the rebalancing time step approaches zero. Two limit theorems (a strong law of large numbers and a central limit theorem) are established, and as an application, the exact limiting distribution is derived.
Xuan Liu, Michel Gauthier
wiley +1 more source
THE BEQUEST MOTIVE AND SINGLE PEOPLE’S DEMAND FOR LIFE ANNUITIES [PDF]
The main objective of this paper is to go deeper into the “annuity puzzle” by introducing the altruistic and strategic bequest motive and determining whether this really is a relevant factor affecting the theoretical decision to purchase life annuities ...
ANA LEJÁRRAGA-GARCÍA +1 more
core
Pricing participating longevity-linked life annuities: a Bayesian Model Ensemble approach. [PDF]
Eur Actuar J, 2022 Bravo JM.
europepmc +1 more source
Renaissance Studies, EarlyView.ABSTRACT This article presents new archival discoveries concerning the siblings of early modern playwright John Fletcher following the sudden death of their father, Richard Fletcher, Bishop of London, in 1596. Navigating the epistemological limits of adversarial legal records from Chancery and the Star Chamber, the study reveals the tumultuous ...
Domenico Lovascio
wiley +1 more source
How Do Retirees Value Life Annuities? Evidence from Public Employees [PDF]
Economists have long been puzzled by the low demand for life annuities. To shed new light on this puzzle, we study payout choices in the Oregon Public Employees Retirement System, where each retiree must choose between a lump sum and a life annuity ...
Jonathan Reuter, John Chalmers
core
Social welfare effects of annuitization in small open economies
The Scandinavian Journal of Economics, EarlyView.Abstract This paper develops a theory of when annuitization improves or reduces social welfare. The analysis is based on a small open economy with exogenous prices, populated by overlapping generations of non‐altruistic agents. Annuities provide longevity risk insurance and above‐market returns, but also reduce accidental bequests that transfer ...
Tim D. Maurer
wiley +1 more source
Individual Welfare Gains from Deferred Life-Annuities under Stochastic Lee-Carter Mortality [PDF]
A deferred annuity typically includes an option-like right for the policyholder. At the end of the deferment period, he may either choose to receive annuity payouts, calculated based on a mortality table agreed to at contract inception, or receive the ...
Thomas Post
core
Ethnic and Gender Disparities in Pension Receipts and Savings in Later Life
Social Policy &Administration, EarlyView.ABSTRACT Pension incomes in later life are determined by the combination of eligibility rules and an individual's life‐course trajectory, including their contributions to pension schemes. Existing research documented that older individuals from minority ethnic communities have a lower likelihood of receiving pension benefits compared to White British ...
Saddaf Naaz Akhtar +3 more
wiley +1 more source