Construct · 1 fields · 1 citations

Yaari's theorem: a standalone construct

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Insurance economics

the result that a consumer with an uncertain lifetime and no bequest motive should hold all wealth in actuarially fair annuities.

In insurance economics, Yaari's theorem refers to the result that a consumer with an uncertain lifetime and no bequest motive should hold all wealth in actuarially fair annuities. This meaning comes from Yaari (1965) in The Review of Economic Studies.[1]

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Nearby constructs

annuity3 fields · 4 citationsjingle · one word, three constructs bequest2 fields · 3 citationsjingle · one word, two constructs

References

Yaari, M. E. (1965). Uncertain Lifetime, Life Insurance, and the Theory of the Consumer. The Review of Economic Studies, 32(2), 137. https://doi.org/10.2307/2296058

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