Public annuities: Understanding annuity buyers’ decision and proposing welfare-improving solutions
Grant Data
Project Title
Public annuities: Understanding annuity buyers’ decision and proposing welfare-improving solutions
Principal Investigator
Professor Lau, Sau Him
(Principal Investigator (PI))
Duration
30
Start Date
2020-01-01
Completion Date
2022-06-30
Amount
404431
Conference Title
Public annuities: Understanding annuity buyers’ decision and proposing welfare-improving solutions
Keywords
bequest heterogeneity, health heterogeneity, loss aversion, policy design, public annuity
Discipline
Economics
Panel
Business Studies (B)
HKU Project Code
17503219
Grant Type
General Research Fund (GRF)
Funding Year
2019
Status
Completed
Objectives
1 To construct a simple theoretical framework to explore the explanatory power of various factors for the annuity puzzle, such as adverse selection, bequest motive, liquidity concern, and precautionary motive. 2 To study systematically policy design issues of public annuities, by evaluating different policies based on welfare comparison and feasibility concerns.