We look at the effects of physical activity (PA) recommendation policies by considering a social multiplier model in which individuals differ in their concern for PA. The government can either observe this concern (and implement the First Best) or not (and implement a uniform policy). Whichever...

Why do some dynasties maintain the fortune of their founders while others completely squander it in few generations? To address this question, we use a simple deterministic microfounded model based on two main elements: the “hunger for accumulation” and the “willingness to exert effort”....

In this paper, ambiguity aversion to uncertain survival probabilities is introduced in a life-cycle model with a bequest motive to study the optimal demand for annuities. Provided that annuities return is sufficiently large, and notably when it is fair, positive annuitization is known to be the...

The rising level of long-term care (LTC) expenditures and their financing sources are likely to impact savings and capital accumulation and henceforth the pattern of growth. This paper studies how the joint interaction of the family, the market and the State influences capital accumulation in a...

In this article, the diversification motives of the demand for annuities is analyzed. Using a model allowing for the uncertainty of both the human life length and the interest rate, the Decision Maker is supposed to choose an optimal portfolio to maximize a bequest. Conditions under which an...