We explore mortality beliefs by eliciting individual-level belief distributions for participants' remaining lifespan … choice, consumption smoothing, saving, and risk management. …

deviation in adult life spans is about 15 years in the U.S., and theory and evidence suggest it is costly. In this paper, I … countries, and accounting for historical gains against the standard deviation raises the total value of mortality declines …

turns out to decrease ex-ante individual welfare, unless restrictions are assumed on retirement behavior. Overall, risk … shown to yield a slight ex-ante welfare improvement from a purely risk-insurance perspective. This relative gain stems from … risk diversification across working-life wages in computing benefits. -- social security reforms ; uncertainty ; risk …