Tang, Siqi; Purcal, Sachi; Zhang, Jinhui - In: Risks 6 (2018) 2, pp. 1-10
model, a number of assumptions are made: complete markets, actuarially fair life insurance/annuity is available, and … (exponential discounting). We find: (1) investors (realistically) demand more life insurance after retirement (in contrast to the …