Universal pension scheme and risk-taking
This article examines whether the existence of a universal pension scheme has any effect on a typical individual's willingness to take risks at a young age. The pension system will give the individual who is assumed to live for two periods a fixed amount in the second period regardless of his i...
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| Veröffentlicht in: | Applied economics letters 2015-01, Vol.22 (1), p.7-11 |
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| container_end_page | 11 |
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| container_issue | 1 |
| container_start_page | 7 |
| container_title | Applied economics letters |
| container_volume | 22 |
| creator | Chen, Yao-Tung Lan, Yuh-Ju Hsu, Ker-Tah Chen, Keng-Shen Wang, Yu-Der |
| description | This article examines whether the existence of a universal pension scheme has any effect on a typical individual's willingness to take risks at a young age. The pension system will give the individual who is assumed to live for two periods a fixed amount in the second period regardless of his initial choice between certain and uncertain income patterns. It is found that with a grant in place for everyone after retirement that satisfies the basic need of consumption in any part of life where the typical individual is more risk-averse, he will always accept the risky projects that at least make him indifferent between sure incomes and uncertain profits in the first period. |
| doi_str_mv | 10.1080/13504851.2014.881965 |
| format | Article |
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The pension system will give the individual who is assumed to live for two periods a fixed amount in the second period regardless of his initial choice between certain and uncertain income patterns. 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It is found that with a grant in place for everyone after retirement that satisfies the basic need of consumption in any part of life where the typical individual is more risk-averse, he will always accept the risky projects that at least make him indifferent between sure incomes and uncertain profits in the first period.</description><subject>Consumption</subject><subject>Decision analysis</subject><subject>Economic analysis</subject><subject>Effects</subject><subject>Income</subject><subject>Pension plans</subject><subject>Pension schemes</subject><subject>Pensions</subject><subject>Profit</subject><subject>Risk</subject><subject>Risk assessment</subject><subject>Risk aversion</subject><subject>risk-taking</subject><subject>Studies</subject><subject>universal pension scheme</subject><issn>1350-4851</issn><issn>1466-4291</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2015</creationdate><recordtype>article</recordtype><recordid>eNp9kDtPwzAUhS0EEqXwDxgisXRJ8fWr9oRQxUtCYqGz5Tg2uE2cYqeg_ntSBRYGpnuG7xxdfQhdAp4DlvgaKMdMcpgTDGwuJSjBj9AEmBAlIwqOhzwg5YE5RWc5rzHGQioxQbNVDJ8uZdMUWxdz6GKR7btrXWFiXaSQN2VvNiG-naMTb5rsLn7uFK3u716Xj-Xzy8PT8va5tIxDXwIYIqmqmWXVwtbGVBxTpeSCSl_VlipWE889rgwhji0MVFyCFwyMUB5bTqdoNu5uU_exc7nXbcjWNY2JrttlDYIyJghwGNCrP-i626U4fDdQhFNBmGIDxUbKpi7n5LzeptCatNeA9UGf_tWnD_r0qG-o3Yy1EH2XWvPVpabWvdk3XfLJRBuypv8ufAMoX3Q3</recordid><startdate>20150102</startdate><enddate>20150102</enddate><creator>Chen, Yao-Tung</creator><creator>Lan, Yuh-Ju</creator><creator>Hsu, Ker-Tah</creator><creator>Chen, Keng-Shen</creator><creator>Wang, Yu-Der</creator><general>Routledge</general><general>Taylor & Francis LLC</general><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>20150102</creationdate><title>Universal pension scheme and risk-taking</title><author>Chen, Yao-Tung ; Lan, Yuh-Ju ; Hsu, Ker-Tah ; Chen, Keng-Shen ; Wang, Yu-Der</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c451t-11a2839d4c4b7cdaab503998738fbdc394d2f5f0ba22e47a1b581f641a69f0c53</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2015</creationdate><topic>Consumption</topic><topic>Decision analysis</topic><topic>Economic analysis</topic><topic>Effects</topic><topic>Income</topic><topic>Pension plans</topic><topic>Pension schemes</topic><topic>Pensions</topic><topic>Profit</topic><topic>Risk</topic><topic>Risk assessment</topic><topic>Risk aversion</topic><topic>risk-taking</topic><topic>Studies</topic><topic>universal pension scheme</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Chen, Yao-Tung</creatorcontrib><creatorcontrib>Lan, Yuh-Ju</creatorcontrib><creatorcontrib>Hsu, Ker-Tah</creatorcontrib><creatorcontrib>Chen, Keng-Shen</creatorcontrib><creatorcontrib>Wang, Yu-Der</creatorcontrib><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Applied economics letters</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Chen, Yao-Tung</au><au>Lan, Yuh-Ju</au><au>Hsu, Ker-Tah</au><au>Chen, Keng-Shen</au><au>Wang, Yu-Der</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Universal pension scheme and risk-taking</atitle><jtitle>Applied economics letters</jtitle><date>2015-01-02</date><risdate>2015</risdate><volume>22</volume><issue>1</issue><spage>7</spage><epage>11</epage><pages>7-11</pages><issn>1350-4851</issn><eissn>1466-4291</eissn><abstract>This article examines whether the existence of a universal pension scheme has any effect on a typical individual's willingness to take risks at a young age. The pension system will give the individual who is assumed to live for two periods a fixed amount in the second period regardless of his initial choice between certain and uncertain income patterns. It is found that with a grant in place for everyone after retirement that satisfies the basic need of consumption in any part of life where the typical individual is more risk-averse, he will always accept the risky projects that at least make him indifferent between sure incomes and uncertain profits in the first period.</abstract><cop>London</cop><pub>Routledge</pub><doi>10.1080/13504851.2014.881965</doi><tpages>5</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 1350-4851 |
| ispartof | Applied economics letters, 2015-01, Vol.22 (1), p.7-11 |
| issn | 1350-4851 1466-4291 |
| language | eng |
| recordid | cdi_crossref_primary_10_1080_13504851_2014_881965 |
| source | EBSCOhost Business Source Complete |
| subjects | Consumption Decision analysis Economic analysis Effects Income Pension plans Pension schemes Pensions Profit Risk Risk assessment Risk aversion risk-taking Studies universal pension scheme |
| title | Universal pension scheme and risk-taking |
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