Health Shocks and Annuity Choices

The authors thank Brent Davis, Hanming Fang, Olivia S. Mitchell, Sven Nolte, Zvi Winner, Spencer Bastani, Niklas Jakobsson, Håkan Selin, Lisa Laun, Raun van Ooijen, Andreas Kotsadam, Oddbjørn Raum, Øystein Hernæs, Ori Heffetz, and participants at the 30th Colloquium on Pensions and Retirement Research, the Center for the Economic Analysis of Risk (CEAR) and Munich Risk and Insurance Center (MRIC) Behavioral Insurance Workshop 2022, the Netspar International Pension Workshop 2023, the 7th International Meeting on Experimental and Behavioral Social Sciences, 2023 Center for the Economic Analysis of Risk and Retirement and Savings Institute (CEAR-RSI) Household Finance Workshop, the 40th annual conference of the Israel Economic Association, 2025 Experimental Finance Conference, the Finance Seminar at The Hebrew University of Jerusalem, the Economics department at the University of Haifa, the Economics Department at Ben Gurion University, the Economics Department at Linnaeus University Research Seminar at the Institute for Evaluation of Labour Market and Education (IFAU), the Research Institute of Industrial Economics (IFN), the Frisch Centre at the University of Oslo, and the 2024 European Economics Association Congress for comments. A version of this manuscript has been distributed as an IFAU Working Paper (2024:4) titled “Health Shocks, Risk Preferences, and Annuity Choices.”