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Life insurance and pension contracts II : the life cycle model with recursive utility

Recurso electrónico / Electronic resource
Registro MARC
Tag12Valor
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008  160804e20160101usa|||p |0|||b|eng d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
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1001 ‎$0‎MAPA20080059958‎$a‎Aase, Knut K.
24510‎$a‎Life insurance and pension contracts II‎$b‎: the life cycle model with recursive utility‎$c‎Knunt K. Aase
520  ‎$a‎This article analyzes optimal consumption and pension insurance during the life time of a consumer using the life cycle model, when the consumer has recursive utility. The relationship between substitution of consumption and risk aversion is highlighted, and clarified by the introduction of this type of preferences. This illustrates how recursive utility can be used to explain the empirical consumption puzzle for aggregates. This indicates a plausible choice for the parameters of the utility function, relevant for the consumer in the life cycle model. Optimal life insurance is considered, as well as the portfolio choice problem related to optimal exposures in risky securities.
650 4‎$0‎MAPA20080552114‎$a‎Pensiones
650 4‎$0‎MAPA20080592455‎$a‎Planes de pensiones
650 4‎$0‎MAPA20080591021‎$a‎Fondos de pensiones
650 4‎$0‎MAPA20080570590‎$a‎Seguro de vida
650 4‎$0‎MAPA20080602437‎$a‎Matemática del seguro
650 4‎$0‎MAPA20080579258‎$a‎Cálculo actuarial
650 4‎$0‎MAPA20080580377‎$a‎Esperanza de vida
650 4‎$0‎MAPA20080604202‎$a‎Teoría de la utilidad
650 4‎$0‎MAPA20080615130‎$a‎Relación costo-beneficio
650 4‎$0‎MAPA20080596316‎$a‎Equilibrio económico
7730 ‎$w‎MAP20077000420‎$t‎Astin bulletin‎$d‎Belgium : ASTIN and AFIR Sections of the International Actuarial Association‎$x‎0515-0361‎$g‎01/01/2016 Volumen 46 Número 1 - enero 2016 , p. 71-102