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This paper explores the introduction of collective risk-reallocation elements in defined contribution pension contracts …. We consider status-contingent, age-contingent and asset-contingent arrangements to reallocate risk among participants …. Eliminating asset market risk for the retired raises their welfare, while it lowers welfare of the workers, despite the fact that …
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We model the optimal reaction of a public PAYG pension system to demographic shocks. We compare the ex-ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules that mimic the pension systems observed in the real world. The...
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pressure: The effect of asymmetric contests on effort, stress and performance -- Performance in contests: The role of risk and … properties as well as underlying mechanisms (e.g., effort, risk, confidence and stress) of ability configurations in contests …: The role of risk and confidence Target Groups Researchers and students in the fields of innovation and entrepreneurship …
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