The ‘Annuity Puzzle’ and Model Portfolios

2020 ◽  
Author(s):  
Dimitry Mindlin
Keyword(s):  
Annuity Puzzle

scholarly journals The Annuity Puzzle Remains a Puzzle

2011 ◽  
Author(s):  
Kim Peijnenburg ◽  
Theo E. Nijman ◽  
Bas J. M. Werker
Keyword(s):  
Annuity Puzzle

The Annuity Puzzle and an Outline of Its Solution

2018 ◽  
Vol 22 (4) ◽  
pp. 623-645 ◽  
Author(s):  
Colin M. Ramsay ◽  
Victor I. Oguledo
Keyword(s):  
Annuity Puzzle

scholarly journals The annuity puzzle remains a puzzle

2016 ◽  
Vol 70 ◽  
pp. 18-35 ◽  
Author(s):  
Kim Peijnenburg ◽  
Theo Nijman ◽  
Bas J.M. Werker
Keyword(s):  
Annuity Puzzle

scholarly journals Survival Pessimism and the Demand for Annuities

2021 ◽  
pp. 1-53
Author(s):  
Cormac O’Dea ◽  
David Sturrock
Keyword(s):  
Mortality Risk ◽  
Purchasing Decisions ◽  
Subjective Expectations ◽  
Survival Probabilities ◽  
Annuity Puzzle ◽  
Longevity Insurance ◽  
Objectively Measured

Abstract The “annuity puzzle” refers to the fact that annuities are rarely purchased despite the longevity insurance they provide. Most explanations for this puzzle assume that individuals have accurate expectations about their future survival. We provide evidence that individuals misperceive their mortality risk, and study the demand for annuities in a setting where annuities are priced by insurers on the basis of objectively-measured survival probabilities but in which individuals make purchasing decisions based on their own subjective survival probabilities. Subjective expectations have the capacity to explain significant rates of non-annuitization, yielding a quantitatively important explanation for the annuity puzzle.

scholarly journals Health Cost Risk: A Potential Solution to the Annuity Puzzle

2011 ◽  
Author(s):  
Kim Peijnenburg ◽  
Theo E. Nijman ◽  
Bas J. M. Werker
Keyword(s):  
Potential Solution ◽  
Health Cost ◽  
Annuity Puzzle ◽  
Cost Risk
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