The Effect of Pension on the Optimized Life Expectancy and Lifetime Utility Level

Inyong Shin

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, we analyze the effect of a pension system on the life expectancy and the lifetime utility level using an optimal dynamic problem of individuals who live in continuous and finite time. Our model yields a number of intriguing results: 1) Life expectancy is not always proportional to lifetime utility. 2) The pension system can make life expectancy longer or shorter. 3) It is not always true that the pension system improves the lifetime utility level.

Keywords: Pension system; Optimized life expectancy; Lifetime utility level; Health investments (search for similar items in EconPapers)
JEL-codes: C61 H55 I31 (search for similar items in EconPapers)
Date: 2012-09
New Economics Papers: this item is included in nep-age
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Related works:
Working Paper: The Effect of Pension on the Optimized Life Expectancy and Lifetime Utility Level (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:41375

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