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-XMaRDI QIDQ6201519zbMATH OpenOpenAlexFDO

Authors Jochen Ruß, Stefan Schelling, Mark B. Schultze

Publication date 21 February 2024

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

Copyright license Creative Commons Attribution 4.0 International

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

zbMATH Keywords

behavioral insuranceold-age provisionprospect theoryretirement savingssimultaneous evaluationutility maximization

Mathematics Subject Classification ID

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

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Cites work

• Advances in prospect theory: cumulative representation of uncertainty
• Equity-linked life insurance based on traditional products: the case of select products
• scientific article; zbMATH DE number 44382 (Why is no real title available?)
• scientific article; zbMATH DE number 3087284 (Why is no real title available?)
• Myopic Loss Aversion and the Equity Premium Puzzle
• On the optimal design of insurance contracts with guarantees
• Optimal investment and life insurance strategies under minimum and maximum constraints
• Prospect Theory: An Analysis of Decision under Risk
• Return smoothing in life insurance from a client perspective
• The framing of decisions and the psychology of choice
• The pricing of options and corporate liabilities

Cited in

(1)

• From intertemporal smoothing to intergenerational risk sharing: the effects of different return smoothing mechanisms in life insurance

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