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The Economic Theory of Annuities
Eytan Sheshinski
€ 65.13
€ 50.79
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Description for The Economic Theory of Annuities
Hardback. Annuities are financial products that guarantee the holder a fixed return so long as the holder remains alive, thereby providing insurance against lifetime uncertainty. This book offers readers a theoretical analysis of the functioning of private annuity markets. Num Pages: 184 pages, 26 line illus. BIC Classification: KCA; KCC; KFFD; KFFN. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 240 x 156 x 19. Weight in Grams: 424.
Annuities are financial products that guarantee the holder a fixed return so long as the holder remains alive, thereby providing insurance against lifetime uncertainty. The terms of these contracts depend on the information available to insurance firms. Unlike age and gender, information about individual survival probabilities cannot be readily ascertained. This asymmetric information causes market inefficiencies, such as adverse selection. Groundbreaking in its scope, The Economic Theory of Annuities offers readers a theoretical analysis of the functioning of private annuity markets. Starting with a general analysis of survival functions, stochastic dominance, and characterization of changes in longevity, Eytan Sheshinski derives ... Read more
Annuities are financial products that guarantee the holder a fixed return so long as the holder remains alive, thereby providing insurance against lifetime uncertainty. The terms of these contracts depend on the information available to insurance firms. Unlike age and gender, information about individual survival probabilities cannot be readily ascertained. This asymmetric information causes market inefficiencies, such as adverse selection. Groundbreaking in its scope, The Economic Theory of Annuities offers readers a theoretical analysis of the functioning of private annuity markets. Starting with a general analysis of survival functions, stochastic dominance, and characterization of changes in longevity, Eytan Sheshinski derives ... Read more
Product Details
Publisher
Princeton University Press United States
Number of pages
184
Format
Hardback
Publication date
2007
Condition
New
Weight
424g
Number of Pages
184
Place of Publication
New Jersey, United States
ISBN
9780691133058
SKU
V9780691133058
Shipping Time
Usually ships in 7 to 11 working days
Ref
99-1
About Eytan Sheshinski
Eytan Sheshinski is the Sir Isaac Wolfson Professor of Public Finance at Hebrew University. He is the coeditor of "Entrepreneurship, Innovation, and the Growth Mechanism of the Free-Enterprise Economies" (Princeton) and "Optimal Pricing, Inflation, and the Cost of Price Adjustment".
Reviews for The Economic Theory of Annuities
"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 more