What to offer if consumers do not want what they need? A simultaneous evaluation approach with an application to retirement savings products

DOI10.1007/s13385-022-00337-xOpenAlexW4315641846MaRDI QIDQ6201519

Stefan Schelling, Jochen Ruß, Mark B. Schultze

Publication date: 21 February 2024

Published in: European Actuarial Journal (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s13385-022-00337-x

zbMATH Keywords

prospect theoryutility maximizationbehavioral insuranceretirement savingssimultaneous evaluationold-age provision

Mathematics Subject Classification ID

Utility theory (91B16) Consumer behavior, demand theory (91B42) Actuarial mathematics (91G05)

Cites Work

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• The Pricing of Options and Corporate Liabilities
• On the optimal design of insurance contracts with guarantees
• Optimal investment and life insurance strategies under minimum and maximum constraints
• Advances in prospect theory: cumulative representation of uncertainty
• Equity-linked life insurance based on traditional products: the case of select products
• Return smoothing in life insurance from a client perspective
• The Framing of Decisions and the Psychology of Choice
• Prospect Theory: An Analysis of Decision under Risk
• Myopic Loss Aversion and the Equity Premium Puzzle

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