Adverse Selection and Moral Hazard in the Annuity Markets

Risultato della ricerca: Working paper

Abstract

Several authors have analysed the case in which individuals possess hidden information about their longevity. Davies and Kuhn have considered the related case in which individuals can take hidden actions to affect their longevity. In this work I will consider the case in which the annuity market is characterized by both adverse selection and moral hazard; with private information all individuals, and in particular low-risk individuals, suffer from negative externalities.
Lingua originaleEnglish
Numero di pagine36
Stato di pubblicazionePubblicato - 2004

Keywords

  • Annuities
  • Asymmetric and Private Information

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