On the Public Economics of Annuities with Differential Mortality

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

No 10/135, CER-ETH Economics working paper series from CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich

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)
Pages: 41 pages
Date: 2010-09
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Related works:
Journal Article: On the public economics of annuities with differential mortality (2011)
Journal Article: On the public economics of annuities with differential mortality (2011)
Working Paper: On the public economics of annuities with differential mortality (2009)
Working Paper: On the Public Economics of Annuities with Differential Mortality (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eth:wpswif:10-135

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