On the public economics of annuities with differential mortality

Antoine Bommier, Marie-Louise Leroux and Jean-Marie Lozachmeur

Journal of Public Economics, 2011, vol. 95, issue 7, 612-623

Abstract: This paper studies the problem of redistribution between individuals having different mortality rates. We use a continuous time model in which there are two types of individuals characterized by different survival probability paths. Individual preferences are represented by a generalized life-cycle utility function which can exhibit temporal risk aversion. We successively compare utilitarian allocations when individuals exhibit temporal risk neutrality and temporal risk aversion. This problem is analyzed in the contexts of full information and asymmetric information on mortality rates.

Keywords: Uncertain Lifetime; Redistribution; Annuities; Nonlinear Taxation (search for similar items in EconPapers)
JEL-codes: H23 H55 I31 (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0047272710001805
Full text for ScienceDirect subscribers only

Related works:
Journal Article: On the public economics of annuities with differential mortality (2011)
Working Paper: On the Public Economics of Annuities with Differential Mortality (2010)
Working Paper: On the public economics of annuities with differential mortality (2009)
Working Paper: On the Public Economics of Annuities with Differential Mortality (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:pubeco:v:95:y:2011:i:7:p:612-623

DOI: 10.1016/j.jpubeco.2010.11.020

Access Statistics for this article

Journal of Public Economics is currently edited by R. Boadway and J. Poterba

More articles in Journal of Public Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu (repec@elsevier.com).