Chapters in this book

1. Frontmatter i
2. Contents ix
3. Preface xiii
4. Chapter 1 Introduction 1
5. Chapter 2 Benchmark Calculations: Savings and Retirement 12
6. Chapter 3 Survival Functions, Stochastic Dominance, and Changes in Longevity 15
7. Chapter 4 Life Cycle Model with Longevity Risk: First Best and Competitive Equilibrium 21
8. Chapter 5 Comparative Statics, Discounting, Partial Annuitization, and No Annuities 29
9. Chapter 6 Subjective Beliefs and Survival Probabilities 45
10. Chapter 7 Moral Hazard 51
11. Chapter 8 Uncertain Future Survival Functions 56
12. Chapter 9 Pooling Equilibrium and Adverse Selection 67
13. Chapter 10 Income Uncertainty 77
14. Chapter 11 Life Insurance and Differentiated Annuities 81
15. Chapter 12 Annuities, Longevity, and Aggregate Savings 97
16. Chapter 13 Utilitarian Pricing of Annuities 109
17. Chapter 14 Optimum Taxation in Pooling Equilibria 118
18. Chapter 15 Bundling of Annuities and Other Insurance Products 131
19. Chapter 16 Financial Innovation—Refundable Annuities (Annuity Options) 135
20. References 153
21. Index 157