지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
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This paper evaluates value of life annuity with consideration of the bequest motive. The analysis is applied to various cohorts among Koreans, who are believed to possess a relatively strong bequest motive. Specifically, we examine how the valuation of annuities changes across various socioeconomic groups by gender, marital status, and education as well as the level of pre-annuitized wealth in the presence of a bequest motive. In this study, the educational level is used as a proxy for mortality. The results suggest that the bequest motive reduces the value of annuities in terms of utility and the reduction is substantial in high mortality-risk groups such as poorly educated men. Also, the results indicate a strong relationship between the values of annuities and demographic characteristics.
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참고문헌 (29)
참고문헌 신청
Abel, A / 1988 / Specification of the joy of giving: insights from altruism / Review of Economics and Statistics 70 : 145 ~ 9
Bernheim, D. D / 1985 / The Strategic Bequest Motive,” Journal of Political Economy 93 : 1045 ~ 76
Bernheim, D. D / 1991 / How strong are bequest motives? Evidence based on estimates of the demand for life insurance and annuities / Journal of Political Economy 99 : 899 ~ 9
Broverman, S. / 1986 / The Rate of Return on Life Insurance and Annuities / Journal of Risk and Insurance 53 : 419 ~ 434
Brown, J / 2000 / Joint Life Annuities and Annuity Demand by Married Couples / Journal of Risk and Insurance 67 : 527 ~ 56
Bernheim, D. D / 1985 / The Strategic Bequest Motive,” Journal of Political Economy 93 : 1045 ~ 76
Bernheim, D. D / 1991 / How strong are bequest motives? Evidence based on estimates of the demand for life insurance and annuities / Journal of Political Economy 99 : 899 ~ 9
Broverman, S. / 1986 / The Rate of Return on Life Insurance and Annuities / Journal of Risk and Insurance 53 : 419 ~ 434
Brown, J / 2000 / Joint Life Annuities and Annuity Demand by Married Couples / Journal of Risk and Insurance 67 : 527 ~ 56
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