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Persistent link: https://www.econbiz.de/10013369758
$ and a Value of Statistical Life (VSL) close to 6.0M$. It identifies symmetric willingness to pay (WTP) and to accept (WTA …
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equity for mortality risk policies should be the symmetric application of the value of a statistical life (VSL) to all groups … in an understanding of the differentials already provided through application of a uniform VSL. Targeting government … and the implicit tradeoff rate ratio relative the average VSL needed to support the redistributive policy. Here we propose …
Persistent link: https://www.econbiz.de/10013470623
Global Warming will cause severe decline of water quality over the world in near future, and mortality risk due to water pollution causing diseases of diarrhea or digestive organs has been one of serious problems especially for Asian developing countries. Generally speaking, implementation of...
Persistent link: https://www.econbiz.de/10011397405
This paper studies the life cycle consumption-investment-insurance problem of a family. The wage earner faces the risk of a health shock that significantly increases his probability of dying. The family can buy term life insurance with realistic features. In particular, the available contracts...
Persistent link: https://www.econbiz.de/10010332889
The design and development of post-retirement income products require the assessment of longevity risk, as well as a basis for hedging these risks. Most indices for longevity risk are age-period based. We develop and assess a cohort-based value index for life insurers and pension funds to manage...
Persistent link: https://www.econbiz.de/10011996569
This paper analyzes and discusses the effects of model misspecification associated with both interest rate and mortality risk on the hedging decisions of insurance companies. We consider hedging strategies in different instruments (zero bonds) which are risk- (variance-) minimizing with respect...
Persistent link: https://www.econbiz.de/10014585443