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The Application of Expected-Utility Theory to the Choice of Investment Channels in a Defined-Contribution Retirement Fund
Published online by Cambridge University Press: 09 August 2013
Abstract
This study examines the practical application of a system for the derivation of member utility functions for the purpose of recommending investment-channel choice to members of a defined-contribution retirement fund. The utility functions of post-retirement benefits from members of a defined-contribution fund are elicited. The risk aversion of each member is measured and the results are compared with a standard risk-tolerance assessment method.
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- Copyright © International Actuarial Association 2009
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