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Intergenerational Actuarial Fairness When Longevity Increases : Amending the Retirement Age

Bravo, Jorge Miguel; Ayuso, Mercedes; Holzmann, Robert; … - 2021

Continuous longevity improvements and population ageing have led countries to modify national public pension schemes by increasing the standard and early retirement ages in a discretionary, scheduled, or automatic way, and by making it harder for people to retire prematurely. To this end,...

Persistent link: https://www.econbiz.de/10013314670

Uncertain bequest needs and long-term Insurance contracts

Fei, Wenan; Fluet, Claude; Schlesinger, Harris - 2008

individual who buys a life insurance contract early in life is often uncertain about the future financial needs of his or her … bequest needs; but since bequest motives are typically unverifiable, a contract directly insuring these needs is not feasible …

Persistent link: https://www.econbiz.de/10010264521

Matching and saving in continuous time: Proofs

Bayer, Christian; Wälde, Klaus - 2010

This paper provides the proofs to the analysis of a continuous time matching model with saving in Bayer and Wälde (2010a). The paper proves the results on consumption growth, provides an existence proof for optimal consumption and a detailed derivation of the Fokker-Planck equations.

Persistent link: https://www.econbiz.de/10010270451

Generalized stochastic gradient learning

Evans, George W.; Honkapohja, Seppo; Williams, Noah - 2005

We study the properties of generalized stochastic gradient (GSG) learning in forward-looking models. We examine how the conditions for stability of standard stochastic gradient (SG) learning both differ from and are related to E-stability, which governs stability under least squares learning. SG...

Persistent link: https://www.econbiz.de/10010261355

Stochastic Contracts and Subjective Evaluations

Lang, Matthias - 2021

Subjective evaluations are widely used, but call for different contracts from traditional moral-hazard settings. Previous literature shows that contracts require payments to third parties, which real-world contracts rarely use. I show that the implicit assumption of deterministic contracts makes...

Persistent link: https://www.econbiz.de/10013311715

Remittances, banking status and the usage of insurance schemes

Crayen, Dorothee; Hainz, Christa; Ströh de Martínez, … - 2010

Empirical evidence that migrants send home more remittances after disasters raises the question of whether remittances can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a unique data set on the usage patterns of financial services...

Persistent link: https://www.econbiz.de/10010270469

Diagnostic Uncertainty and Insurance Coverage in Credence Goods Markets

Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2021

framework. We test the model’s predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the …

Persistent link: https://www.econbiz.de/10013314966

Insurance for Catastrophes - Indemnity vs. Parametric Insurance with Imperfect Information

Feess, Eberhard; Jordan, Cathrin; Noy, Ilan - 2022

Insurance for natural hazards - earthquakes, hurricanes, or pandemics - is rarely comprehensively adopted without intense government intervention, and even then it is often only a minority of properties or businesses that are insured. Efforts to close this insurance gap include the introduction...

Persistent link: https://www.econbiz.de/10013296268

Biased Survival Expectations and Behaviours : Does Domain Specific Information Matter?

Costa-Font, Joan; Vilaplana-Prieto, Cristina - 2021

We study biased survival expectations across two domains and examine whether such biased expectations influence health and financial behaviors. Combining individual-level longitudinal data, retrospective, and end of life data from several European countries for more than a decade, we estimate...

Persistent link: https://www.econbiz.de/10013311581

Advantageous Selection Without Moral Hazard (with an Application to Life Care Annuities)

De Donder, Philippe; Leroux, M.‐L; Salanié, François - 2022

Advantageous (or propitious) selection occurs when an increase in the premium of an insurance contract induces high … face two mutually exclusive risks that are bundled together in a single insurance contract. We exemplify this last case … to provide an example of a contract facing advantageous selection …

Persistent link: https://www.econbiz.de/10014083046

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