When entering retirement most people face the decision whether they would like their defined contribution account …

What are the welfare effects of a policy that facilitates for insurance customers to privately and covertly learn about … their accident risks? We endogenize the information structure in Stiglitz's classic monopoly insurance model. We first show … contracts are close to the ones in the Stiglitz model. If c is so low that the consumer already gathers information (c<c*), both …

We study a monopoly insurance model with endogenous information acquisition. Through a continuous effort choice … informed consumers). Regardless of the nature of the equilibrium, all offered contracts, also at the top, involve …

contracts. We then apply our results to insurance, managerial incentive pay and corporate governance. … information, so that the model also exhibits adverse selection. We characterize the optimal menu of contracts; while its detailed …

This paper studies the design of retirement and disability policies. It illustrates the often observed exit from the … labour force of healthy workers through disability insurance schemes. Two types of individuals, disabled and leisure … social welfare. Benefits depend on retirement age and on the (reported) health status. We determine first- and second …

The present Paper studies the retirement incentives for elderly people in Belgium. We model the incentive structure … built into the various public early retirement and retirement systems. First, we compute indicators of benefit entitlement … as of the implicit tax rates the elderly workers face in case of delayed retirement. We find strong evidence of social …

income risks and also upon the actuarial fairness of annuity contracts. …

insurance demand, saving and portfolio choice. Moreover, reasonable preference parameters predict annuity demand levels …

return and income risks and also upon the actuarial fairness of annuity contracts. We focus on the case of Japan where ageing …