@article {edsrep._88420030101,
	title = {Note on the Optimum Pricing of Annuities.},
	journal = {CESifo Working Paper Series},
	year = {2003},
	abstract = {In a perfectly competitive market for annuities with full information, the price of annuities is equal to individuals{\textquoteright} (discounted) survival probabilities. That is, prices are actuarially fair. In contrast, the pricing implicit in social security systems invariably allows for cross subsidization between different risk groups (males/females). We examine the utilitarian approach to the optimum pricing of annuities and show how the solution depends on the joint distribution of survival probailities and incomes in the population.},
	url = {http://search.ebscohost.com/login.aspx?direct=true\&db=edsrep\&AN=edsrep._884\&site=eds-live},
	author = {Eytan, Sheshinski}
}
