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Value of life and annuity demand
Pashchenko, Svetlana; Ponpoje Porapakkarm - In: The journal of risk & insurance 89 (2022) 2, pp. 371-396
Persistent link: https://www.econbiz.de/10013191439
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Should Investors Choose Both the Highest-Return and Small-Variance Assets When the Mean-Variance Rule Says No? A Study of Health Care and T-Bill in the Investment
Lv, Zhihui - 2020
The high-speed growth of the health care sector has given this sector an increasingly important role in the stock market. This sector however has the highest mean in our study and a low correlation with the business cycle. On the other hand, T-Bill is also an important asset in investment...
Persistent link: https://www.econbiz.de/10012841796
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Rank dependent utility, tax evasion and labor supply
Eide, Erling; Simson, Kristine von; Strøm, Steinar - 2010
payers act according to some non-expected utility theory, and (2) Individual ethical norms and social stigma induce people … subjective probabilities of being penalised according to the rank dependent utility theory, and (2) Tax payers' beliefs about … utility theory. The model explains data 53% better than pure random choices and predicts hours worked in the regular economy …
Persistent link: https://www.econbiz.de/10008697806
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Heterogeneity and risk sharing in village economies
Chiappori, Pierre-André; Krislert Samphantharak; … - In: Quantitative economics : QE ; journal of the … 5 (2014) 1, pp. 1-27
preferences. Full insurance cannot be rejected. As the risk-sharing as-if-complete-markets theory might predict, estimated risk …
Persistent link: https://www.econbiz.de/10011757115
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Recursive preferences, the value of life, and household finance
Bommier, Antoine; Harenberg, Daniel; Le Grand, François; … - 2020
Persistent link: https://www.econbiz.de/10012319445
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A structural analysis of the health expenditures and portfolio choices of retired agents
Hugonnier, Julien; Pelgrin, Florian; St.-Amour, Pascal - 2010
Richer and healthier agents tend to hold riskier portfolios and spend proportionally less on health expenditures. Potential explanations include health and wealth e ffects on preferences, expected longevity or disposable total wealth. Using HRS data, we perform a structural estimation of a...
Persistent link: https://www.econbiz.de/10008797085
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Optimal Portfolio Choice with Health-Contingent Income Products : The Value of Life Care Annuities
Wu, Shang - 2016
Whereas there is ample evidence that life-contingent income products (life annuities) have the potential to improve individual welfare, combining them with health-contingent income products (resulting in so-called life care annuities) would serve to further increase welfare for individuals who...
Persistent link: https://www.econbiz.de/10012985829
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Optimal portfolio choice with health-contingent income products : the value of life care annuities
Wu, Shang; Bateman, Hazel; Stevens, Ralph - In: North American actuarial journal : NAAJ ; leading the … 27 (2023) 2, pp. 278-302
Persistent link: https://www.econbiz.de/10014320628
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Value-at-Risk for Country Risk Ratings
McAleer, Michael; da Veiga, Bernardo; Hoti, Suhejla - 2010
The country risk literature argues that country risk ratings have a direct impact on the cost of borrowings as they reflect the probability of debt default by a country. An improvement in country risk ratings, or country creditworthiness, will lower a country’s cost of borrowing and debt...
Persistent link: https://www.econbiz.de/10014204307
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Contrasting Two Approaches in Real Options Valuation : Contingent Claims versus Dynamic Programming
Insley, Margaret C.; Wirjanto, Tony S. - 2013
This paper compares two well-known approaches for valuing a risky investment using real options theory …
Persistent link: https://www.econbiz.de/10014219615