Uncertain lifetime, risk aversion and life insurance

Edi Karni, Itzhak Zilcha

Research output: Contribution to journalArticlepeer-review


This paper develops the requisite conditions for interpersonal comparisons of attitudes toward risk in the presence of uncertain lifetime. For comparable individuals measures of absolute risk aversion are presented. Using the notion of actuarial notes the paper applies the measures of risk aversion to a comparative static analysis of the demand for term life insurance coverage.

Original languageEnglish
Pages (from-to)109-123
Number of pages15
JournalScandinavian Actuarial Journal
Issue number2
StatePublished - 1985
Externally publishedYes


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