' arises from differences in mortality risk, marital status, risk aversion, and the presence of pre-existing annuities such as …

choice model which integrates uninsurable labor income and asymmetric mortality expectations. Our model generates optimal …

This paper investigates whether subjective expectations about future mortality affect consumption and bequests motives … involuntary or accidental. Moreover, parameter estimates using subjective mortality risk perform better in predicting out …-of-sample wealth levels than estimates using life table mortality risks, suggesting that decisions about consumption and saving are …

stochastic event, age-specific mortality risks are endogenous variables, and spending on life protection is set jointly with …-specific mortality risks and implicit private values-of-life-saving (VLS) as "dual variables", and estimates them jointly. It also offers …

differences in their mortality risks. A dynamic optimal stopping-point life cycle model is examined, in which group …-level mortality risk plays an important role in determining individual-level mortality risk, health expenditure,and the amount of … schooling. The model is calibrated to quantify the effect of mortality risks on schooling by taking the black and white male …

According to the life-cycle model, mortality risk will influence both retirement and the desire to annuitize wealth. We …