household's mortality risk itself to be stochastic. Annuities still help to hedge longevity risk, but they are now subject to …

accurate and low cost computational techniques which would permit extensive use of simulation methodology. Large samples are … simulation results. This paper investigates the tradeoffs available between computational accuracy and cost in simulation …

, saving, and portfolio allocation patterns given stochastic and systematic mortality. Insurers have taken two approaches to … manage systematic mortality risks, namely self-insurance and risk transfer to purchasers of the annuity products. We …

stochastic simulation. One can estimate, for example, the probability of a recession occurring within some fixed period in the … present procedure is that the probabilities estimated from the stochastic simulation are objective in the sense that they are …

normal critical values will yield actual sizes close to, but a little less than, nominal size. Simulation evidence supports …

how people use advance information to reduce mortality from heat and cold. Theoretically, more accurate forecasts reduce … mortality if and only if mortality risk is convex in forecast errors. We test for such convexity using data on the universe of … mortality events and weather forecasts for a twelve-year period in the U.S. Results show that erroneously mild forecasts …