Arbeitspapier

Stochastic mortality, subjective survival expectations, and individual saving behavior

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Theoretical studies suggest that unexpected changes in future mortality and survival probabilities (stochastic mortality) are important determinants of individuals' decisions about consumption, saving, asset allocation, and retirement timing. Using data on subjective survival expectations elicited in the Survey of Health, Ageing and Retirement in Europe (SHARE) and corresponding life table data from the Human Mortality Database (HMD), we find evidence of respondents' awareness of stochastic mortality. We also find that respondents' saving behavior is influenced by stochastic mortality perceptions.

Language
Englisch

Bibliographic citation
Series: SFB 649 Discussion Paper ; No. 2010-040

Classification
Wirtschaft
Household Saving; Personal Finance
Expectations; Speculations
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Fiscal Policies and Behavior of Economic Agents: Household
Demographic Trends, Macroeconomic Effects, and Forecasts
Subject
stochastic mortality
subjective survival expectations
forecast dispersion
savings behavior
Sterblichkeit
Stochastischer Prozess
Erwartungstheorie
Sparen
Alte Menschen
Europa

Event
Geistige Schöpfung
(who)
Post, Thomas
Hanewald, Katja
Event
Veröffentlichung
(who)
Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk
(where)
Berlin
(when)
2010

Handle
Last update
10.03.2025, 11:43 AM CET

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Object type

  • Arbeitspapier

Associated

  • Post, Thomas
  • Hanewald, Katja
  • Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk

Time of origin

  • 2010

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