Pension demand and utility: the life annuity puzzle

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11320%2F14%3A10282735" target="_blank" >RIV/00216208:11320/14:10282735 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Pension demand and utility: the life annuity puzzle

Original language description

This paper shows by means of the concept of utility that annuitization through life annuities or a pension can be an efficient instrument for the economic assurance of seniors. Various quantitative argument are presented supporting this statement (e.g. annuity equivalent wealth AEW is calculated using Czech data). In conclusion, some practical arguments are mentioned regarding why the real demand on life anuities contradicts this result so that a so-called annuity puzzle arises in pension practice.

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

BA - General mathematics

OECD FORD branch

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Project

<a href="/en/project/GBP402%2F12%2FG097" target="_blank" >GBP402/12/G097: DYME-Dynamic Models in Economics</a><br>

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2014

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Czech Journal of Economics and Finance

ISSN

0015-1920

e-ISSN

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Volume of the periodical

64

Issue of the periodical within the volume

3

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

20

Pages from-to

213-232

UT code for WoS article

000338186400002

EID of the result in the Scopus database

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