Arbeitspapier
Adverse Selection in the Annuity Market with Sequential and Simultaneous Insurance Demand
This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement separate contracts can be purchased. Demand for the two periods can be decided either sequentially or simultaneously. We show that different risk-groups prefer different types of contracts, and that only the sequential contracts, which are favourable for the long-living individuals, represent an equilibrium.
- Language
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Englisch
- Bibliographic citation
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Series: CESifo Working Paper ; No. 783
- Classification
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Wirtschaft
- Subject
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annuity markets
adverse selection
uncertain lifetimes
equilibrium
- Event
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Geistige Schöpfung
- (who)
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Brunner, Johann K.
Pech, Susanne
- Event
-
Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
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Munich
- (when)
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2002
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Brunner, Johann K.
- Pech, Susanne
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2002
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