MAHIEU, R.; SÉDILLOT, B. - Département des Études Économiques d'Ensemble (D3E), … - 2000
We model the demand for private annuities following Yaari (1965). In the line of Brown (1999) we define an Annuity Equivalent Wealth (AEW) that reflects the fact that an annuity provides a greater utility to a risk adverse individual than an actuarially equivalent lump sum. This indicator...