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

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      <subfield code="a">Li, Yikang </subfield>
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      <subfield code="a">We 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.</subfield>
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      <subfield code="t">The Journal of risk and insurance</subfield>
      <subfield code="d">Nueva York : The American Risk and Insurance Association, 1964-</subfield>
      <subfield code="x">0022-4367</subfield>
      <subfield code="g">01/09/2020 Volumen 87 Número 3 - septiembre 2020 , p. 719-750</subfield>
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