On the optimality of deferred public annuities

• 成果类型: Article
• 署名作者: Einav, Liran; Finkelstein, Amy
• 署名单位: Stanford University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2026.105601
• 发表日期: 2026
• 关键词: social-security

摘要

What is the optimal path of Social Security benefits for an individual who has retired with a stock of wealth, faces stochastic mortality, and has no access to annuities and no preferences for bequests? It is a deferred annuity in which the government annuity pays out zero for some periods and a constant amount after that. The optimal length of the deferral period increases with the retiree's initial wealth and their survival probability.