The standard model of intertemporal choice assumes risk neutrality toward the length of life: due to additivity, agents … Panel (ALP), this paper provides empirical evidence on possible deviation from risk neutrality with respect to longevity in … the U.S. population. The questions we ask allow to find the distribution as well as to quantify the degree of risk …

assumption of (intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the … importance of risk and correlation. Second, debate and models largely overlook the difference in attitude with respect to risk … and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …

funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by different …

turns out to decrease ex-ante individual welfare, unless restrictions are assumed on retirement behavior. Overall, risk … shown to yield a slight ex-ante welfare improvement from a purely risk-insurance perspective. This relative gain stems from … risk diversification across working-life wages in computing benefits. -- social security reforms ; uncertainty ; risk …

In the expected-utility theory of the monetary value of a statistical life, the so-called dead-anyway effect discovered … by Pratt and Zeckhauser (1996) asserts that an individuals' willingness to pay (WTP) for small reductions in mortality … risk increases with the initial level of risk. Their reasoning is based on differences in the marginal utility of wealth …

that different risk-groups prefer different types of contracts, and that only the sequential contracts, which are …