Stochastic mortality, subjective survival expectations, and individual saving behavior

Arbeitspapier

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.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: SFB 649 Discussion Paper ; No. 2010-040

Klassifikation und Themen

• Klassifikation: 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
• Thema: stochastic mortality ; subjective survival expectations ; forecast dispersion ; savings behavior ; Sterblichkeit ; Stochastischer Prozess ; Erwartungstheorie ; Sparen ; Alte Menschen ; Europa

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Post, Thomas ; Hanewald, Katja
• Ereignis: Veröffentlichung
• (wer): Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk
• (wo): Berlin
• (wann): 2010

Weitere Informationen

• Handle: http://hdl.handle.net/10419/56756
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ