The Impact of Risk and Ambiguity Aversion on Annuity and Saving Choices

We analyze the impact of risk and ambiguity aversion using a lifecycle recursive utility model. Both risk and ambiguity aversion are shown to reduce annuity demand and enhance bond holdings. We obtain this result using an intertemporal framework in which we can vary both risk and ambiguity aversion, while preserving preference monotonicity

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Year of publication:	[2021]
Authors:	André, Eric ; Bommier, Antoine ; Le Grand, Francois
Publisher:	[S.l.] : SSRN
Subject:	Sparen \| Savings \| Risikoaversion \| Risk aversion \| Entscheidung unter Unsicherheit \| Decision under uncertainty \| Experiment \| Entscheidung unter Risiko \| Decision under risk \| Risiko \| Risk \| Private Altersvorsorge \| Private retirement provision \| Altersvorsorge \| Retirement provision

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Extent:	1 Online-Ressource (28 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 6, 2020 erstellt
Other identifiers:	10.2139/ssrn.3769365 [DOI]
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; G11 - Portfolio Choice ; J17 - Value of Life; Foregone Income
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013241836