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| Author: | Finkelstein, A. Poterba, J. |
| Title: | Selection effects in the United Kingdom individual annuities market |
| Journal: | Economic Journal
2002 : JAN, VOL. 112:476, p. 28-50 |
| Index terms: | Economic theory Interest rates |
| Freeterms: | Annuities |
| Language: | eng |
| Abstract: | This paper explores adverse selection in the voluntary and compulsory individual annuity markets in the United Kingdom. The authors estimate that the amount of adverse selection in the compulsory market is about one half of that in the volunta market. The pricing of different types of annuity products within each annuity market is consistent with individuals selecting products based, in part, on private information about their mortality prospects. |
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