49 citations · 86 across the 7 of their papers we have counts for
Showing q-fin.RMShow all
3 papers · 1 filter
q-fin.RM2025
A note on bequest preferences in utility maximisation for modern tontines
Thomas Bernhardt
In this short note, we address two issues in the literature about modern tontines with bequest and utility maximisation: how to verify optimal controls and the decreasing allocatio…
q-fin.RM2021★ 1 cited
Wealth heterogeneity in a closed pooled annuity fund
Thomas Bernhardt, Ge Qu
The stability of income payments in a pooled annuity fund is studied. In those funds, members receive a fluctuating income depending on their experienced mortality in exchange for…
q-fin.RM2020★ 36 cited
Quantifying the trade-off between income stability and the number of members in a pooled annuity fund
Thomas Bernhardt, Catherine Donnelly
The number of people who receive a stable income for life from a closed pooled annuity fund is studied. Income stability is defined as keeping the income within a specified toleran…