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Document Details : Title: The Application of Expected-Utility Theory to the Choice of Investment Channels in a Defined-Contribution Retirement Fund Author(s): LEVITAN, Shaun , THOMSON, Robert Journal: ASTIN Bulletin Volume: 39 Issue: 2 Date: 2009 Pages: 615-647 DOI: 10.2143/AST.39.2.2044651 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. |
