idiosyncratic coskewness betas are positive (negative). Standard risk factors, such as the market, size, book-to-market, and …

Pooled annuity products, where the participants share systematic and idiosyncratic mortality risks as well as … investment returns and risk, provide an attractive and effective alternative to traditional guaranteed life annuity products …. While longevity risk sharing in pooled annuities has received recent attention, incorporating investment risk beyond fixed …

is the unhealthy retiree with a short life expectancy more likely to appreciate the pooling of longevity risk? What if … longevity risk pooling by linking the economics of annuity equivalent wealth (AEW) to actuarial models of aging. I focus … attention on the Compensation Law of Mortality which implies that individuals with higher relative mortality (e.g. lower income …