On the public economics of annuities with differential mortality
AbstractThis 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.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2009030.
Date of creation: 01 Apr 2009
Date of revision:
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uncertain lifetime; redistribution; annuities; nonlinear taxation;
Other versions of this item:
- Bommier, Antoine & Leroux, Marie-Louise & Lozachmeur, Jean-Marie, 2011. "On the public economics of annuities with differential mortality," Journal of Public Economics, Elsevier, vol. 95(7-8), pages 612-623, August.
- Bommier, Antoine & Leroux, Marie-Louise & Lozachmeur, Jean-Marie, 2011. "On the public economics of annuities with differential mortality," Journal of Public Economics, Elsevier, vol. 95(7), pages 612-623.
- Bommier, Antoine & Leroux, Marie-Louise & Lozachmeur, Jean-Marie, 2009. "On the Public Economics of Annuities with Differential Mortality," TSE Working Papers 09-021, Toulouse School of Economics (TSE).
- Antoine Bommier & Marie-Louise Leroux & Jean-Marie Lozachmeur, 2010. "On the Public Economics of Annuities with Differential Mortality," CER-ETH Economics working paper series 10/135, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-03-28 (All new papers)
- NEP-HEA-2010-03-28 (Health Economics)
- NEP-PBE-2010-03-28 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Pierre Pestieau & Grégory Ponthière, 2012. "The public economics of increasing longevity," Working Papers halshs-00676492, HAL.
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