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Selection and redistribution in the irish tontines of 1773, 1775, and 1777

Recurso electrónico / Electronic resource
MARC record
Tag12Value
LDR  00000cab a2200000 4500
001  MAP20200028956
003  MAP
005  20220911211126.0
008  200921e20200901usa|||p |0|||b|eng d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎14
100  ‎$0‎MAPA20200018803‎$a‎Li, Yikang
24510‎$a‎Selection and redistribution in the irish tontines of 1773, 1775, and 1777‎$c‎Yikang Li, Casey Rothschild
520  ‎$a‎We construct and analyze a new data set on the mortality experience of the nominees of the 1773, 1775, and 1777 Irish tontines. The active participation of Genevan speculators in these Irish tontines has been well documented. We use our new data to quantify both the extent to which these nominees were longer-lived and the financial consequences of their enhanced longevity. The Genevan nominees were indeed notably longer-lived than non-Genevan nominees-particularly so for the 50 nominees selected by a Genevan investment syndicate. Their enhanced longevity had only trivial financial consequences for the issuer, but it led to significant redistribution from nonGenevan to Genevan investors. We highlight the implications of this acrossgroup distributional risk for modern proposals to introduce tontine-like elements into modern retirement pensions.
650 4‎$0‎MAPA20080549206‎$a‎Tontinas
650 4‎$0‎MAPA20080591380‎$a‎Historia del seguro
650 4‎$0‎MAPA20080598358‎$a‎Productos de seguros
650 4‎$0‎MAPA20080578848‎$a‎Análisis de datos
650 4‎$0‎MAPA20080555306‎$a‎Mortalidad
651 1‎$0‎MAPA20080637927‎$a‎Irlanda
700  ‎$0‎MAPA20110019532‎$a‎Rothschild, Casey
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Nueva York : The American Risk and Insurance Association, 1964-‎$x‎0022-4367‎$g‎01/09/2020 Volumen 87 Número 3 - septiembre 2020 , p. 719-750