Giuseppe Cappelletti|Giovanni Guazzarotti|Pietro Tommasino
What Determines Annuity Demand at Retirement?
Bank of Italy|Bank of Italy|Bank of Italy
study determinants demand annuities using survey data italy eliciting potential demand ad hoc question able contrary previous studies disentangle demand supplyside effects results highlight importance wealth impatience education financial literacy shaping annuity demand particular poor people annuitise less also characterised higher elasticity annuity demand prices result suggests prices higher actuarially fair concern policymakers regulators efficiency also fairness grounds