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Tontine et rentes viagères en 1693 en Angleterre

Author

Listed:
  • Georges Gallais-Hamonno

    (LEO - Laboratoire d'Économie d'Orleans [UMR7322] - UO - Université d'Orléans - UT - Université de Tours - CNRS - Centre National de la Recherche Scientifique)

  • Christian Rietsch

    (LEO - Laboratoire d'Économie d'Orleans [UMR7322] - UO - Université d'Orléans - UT - Université de Tours - CNRS - Centre National de la Recherche Scientifique)

Abstract

In 1693, in order to finance its war effort against France, England emitted its first tontine loan. It proved a failure, as shown by the fact only 10 % of the expected capital was issued; even if the required funds could eventually be raised through a subsidiary operation in life annuities. First the design of the tontine loan was awkward ; then frauds as to the survivors may have occurred whereas the most serious error was was the parallel issue of a particularly profitable loan in life annuities, which did not determine the rate of annuities according to age.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Georges Gallais-Hamonno & Christian Rietsch, 2016. "Tontine et rentes viagères en 1693 en Angleterre," Post-Print hal-03534766, HAL.
    • Handle: RePEc:hal:journl:hal-03534766
    DOI: 10.3917/rfe.153.0015
    as

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