"Eytan Sheshinski has written the definitive book on the economics of annuities. In light of the demographic transitions in many countries and the changing nature of social insurance, this work will be extremely important in the years ahead."—Jerry R. Green, Harvard University "This book develops the economic theory of private annuity markets and fills an important gap in previous research. ... Read moreIts systematic and insightful analysis provides a foundation on which future students of insurance markets, and policy analysts concerned with these markets, are sure to build."—James Poterba, Massachusetts Institute of Technology "With exceptional clarity, Sheshinski presents the analysis of savings and annuitization, incorporating new results and raising interesting research questions."—Peter Diamond, Massachusetts Institute of Technology "This work is a very complete study of a surprisingly neglected field. The technical and conceptual problems raised by uncertainty as to the individual's lifetime, central to this study, are handled with great skill and is well written."—Kenneth J. Arrow, Nobel Prize-winning economist Show Less