mortality risk, and one with consumers who are misguided about their life expectancy, and find that our data are most consistent … test whether consumers make systematic mistakes in perceiving their mortality risks. We implement this test using data from …

manage systematic mortality risks, namely self-insurance and risk transfer to purchasers of the annuity products. We …, saving, and portfolio allocation patterns given stochastic and systematic mortality. Insurers have taken two approaches to … demonstrate that self-insurance leads to high loadings, so that households offered a choice would favor the risk transfer scheme …

assumptions of full annuitization and deterministic health. Our framework can value the prevention of mortality and of illness … add $127 billion to the value of a one percent decline in future mortality …

Using the widely-cited Lee-Carter mortality model, we quantify aggregate mortality risk as the risk that the average … substantial mortality risk. We calculate that a markup of 3.7% on an annuity premium (or else shareholders%u2019 capital equal to … underpriced. Insurance companies could deal with aggregate mortality risk by transferring it to financial markets through …

information on mortality risk. The reason for this contradictory result is the existence of multiple dimensions of private … on mortality risk. A mixture density model is applied to disentangle these two effects … coverage and ex post risk. This paper shows the opposite in the life insurance market despite the clear evidence of private …

involuntary or accidental. Moreover, parameter estimates using subjective mortality risk perform better in predicting out … influenced more strongly by individual-level beliefs about mortality risk than by group level mortality risk …This paper investigates whether subjective expectations about future mortality affect consumption and bequests motives …

including a history of heart attack or cancer, and subjective probabilities of survival. The estimation is based on mortality …The objective of this paper is to find the quantitative importance of some predictors of mortality among the population …-economic indicators and mortality declines with age 13 health indicators are strong predictors of mortality and that the subjective …

studies conducted in eleven countries to explore liquidity risk transmission. Among the main results is, first, that … explanatory power of the empirical model is higher for domestic lending than for international lending. Second, how liquidity risk … management across global banks can be important for liquidity risk transmission into lending. Fourth, there is substantial …

government risk facing investors in medical innovation. This risk slows down medical innovation because investors must be …&D investors to better share the pipeline risk associated with FDA approval with broader capital markets. Using historical FDA … from offering them. Using various unique data sources, we find that FDA approval risk has a low correlation across drug …

markets, focusing on the US, the UK, and Japan. Our results help assess the extent to which life insurers can hedge mortality …