implications of these factors for human capital valuation and risk …

and their implications for human capital valuation and risk …

adjusting for risk. The traditional actuarial approach - the approach currently used by the Social Security Administration in … generating its most widely cited numbers - ignores risk and instead simply discounts "expected" future flows back to the present … using a risk-free rate. If benefits are risky and this risk is priced by the market, then actuarial estimates will differ …

rates implicit in (a) money v. future risk reductions and (b) money v. money tradeoffs. We find that the mean personal … gender. The discount rate implicit in money v. risk tradeoffs is in line with estimates from studies in the US and Europe …