Bequest Motives and the Annuity Puzzle

Few retirees annuitize any wealth, a fact that has so far defied explanation within the standard framework of forward-looking, expected utility-maximizing agents. Bequest motives seem a natural explanation. Yet the prevailing view is that people with plausible bequest motives should annuitize part o...

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Bibliographic details
Volume: 15
Main Author: Lockwood, Lee M
Format: Journal Article
Language: English
Place of publication: Elsevier for the Society for Economic Dynamics 2012
published in: Review of Economic Dynamics Vol. 15; no. 2; pp. 226 - 243
Data of publication: 2012
Series: Review of Economic Dynamics
Subjects:
Online Access: available in Bonn?
Database: RePEc
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