An Annuity People Might Actually Buy
An Annuity People Might Actually Buy
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人们实际上可能会购买的年金
DOI：
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发表时间：
2007
期刊：
影响因子：
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通讯作者：
Wei Sun
中科院分区：
文献类型：
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作者：
A. Webb;Guan Gong;Wei Sun
即时年金为防止人的财富耗尽提供了保险。先前的研究表明，这种保险对面临寿命不确定的风险规避家庭来说应该是有价值的。但自愿年金化的比率仍然极低。对于退休家庭不愿领取年金，人们给出了许多解释。一个突出的解释是，年金遭受了相当程度的精算不公平。也就是说，对于普通家庭来说，用利率和年生存概率贴现的收入预期值远远低于支付的保险费。但家庭似乎也受到了不愿放弃获得终身储蓄的影响。
Immediate annuities provide insurance against outliving one's wealth. Previous research has shown that this insurance ought to be valuable to risk-averse households facing an uncertain lifespan. But rates of voluntary annuitization remain extremely low. Many explanations have been offered for retired households' reluctance to annuitize. One prominent explanation is that annuities suffer from a considerable degree of actuarial unfairness. That is, for the average household, the expected value of the income, discounted by a rate of interest and annual survival probabilities, is considerably less than the premium paid. But it seems likely that households are also influenced by a reluctance to give up access to their life savings...