Longevity Risk, Subjective Survival Expectations, and Individual Saving Behavior
Thomas Post () and
Katja Hanewald ()
No 201111, Working Papers from ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales
Theoretical studies suggest that unexpected changes in future survival probabilities, that is, longevity risk, are important determinants of individuals' decision making about consumption, saving, allocation of assets, and retirement timing. Based on a data set that matches subjective survival expectations and savings indicators from the Survey of Health, Ageing and Retirement in Europe (SHARE) with life table data from the Human Mortality Database this study provides first empirical evidence that individuals are aware of longevity risk.
Keywords: longevity risk; subjective survival expectations; forecast dispersion; saving behavior (search for similar items in EconPapers)
JEL-codes: D14 D84 D91 H31 J11 (search for similar items in EconPapers)
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Journal Article: Longevity risk, subjective survival expectations, and individual saving behavior (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:asb:wpaper:201111
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