How to invest and decumulate wealth during retirement has far-reaching consequences for consumption during retirement. We conduct an online experiment among 2,500 individuals representative of the adult German population. First, we investigate the choice between phased withdrawal plans with...

One important parameter in the decision process when buying a private annuity is individuals' subjective life expectancy, because it directly infuences the expected rate of return. We examine the market for private annuities in Germany and evaluate potential selection effects based on subjective...

In einem kürzlich in der Zeitschrift "Finanzarchiv" erschienenen Beitrag untersuchte B. Raffelhüschen, wie sich eine Volkswirtschaft an das Umlageverfahren anpaßt. Er verwendete dafür das Diamond-Generationen-Modell, welches er für seine Simulation geeignet spezifizierte und Daten der...