Bergstresser, D. and Poterba, J. (2004) Asset allocation and asset location: Household evidence from the survey of consumer Finance. Journal of Public Economics, 88: 1893–1915.
Blake, D., Cairns, A., and Dowd, K. (2003) Pensionmetrics 2: stochastic pension plan design during the distribution phase. Insurance: Mathematics and Economics, 33(1): 29–47.
Bodie, Z. and Pesando, J. (1983) Retirement annuity design in an inflationary climate. In Bodie, Z. and Shoven, J. (eds) Financial Aspects of the US Pension System, Chicago, IL: University of Chicago Press.
Brown, J. R. (2001) Private pensions, mortality risk, and the decision to annuitize. The Journal of Public Economics, 82(1): 29–62.
Brown, J. R., Mitchell, O. S., and Poterba, J. M. (2001) The role of real annuities and indexed bonds in an individual accounts retirement program. In Campbell, J. Y. and Feldstein, M. (eds) Risk Aspects of Investment-Based Social Security Reform, Chicago, IL: University of Chicago Press, pp. 321–360.
Browne, S., Milevsky, M. A., and Salisbury, T. S. (2003) Asset allocation and the liquidity premium for illiquid annuities. Journal of Risk and Insurance, 70(3): 509–526.
Brugiavini, A. (1993) Uncertainty resolution and the timing of annuity purchases. The Journal of Public Economics, 50(1): 31–62.
Charupat, N. and Milevsky, M. A. (2002) Optimal asset allocation in life annuities: a note. Insurance: Mathematics and Economics, 30(2): 199–209.
Cocco, J. F., Gomes, F. J., and Maenhout, P. J. (2005) Consumption and portfolio choice over the life cycle. Review of Financial Studies, 18: 491–533.
Cogan, J. and Mitchell, O. S. (2003) Perspectives from the President's Commission on Social Security Reform. Journal of Economic Perspectives, 17(2): 149–172.
Davidoff, T., Brown, J., and Diamond, P. (2005) Annuities and individual welfare. American Economic Review, 95(5): 1573–1590.
Dellinger, J. K. (2006) The Handbook of Variable Income Annuities, New Jersey: John Wiley & Sons.
Dus, I., Maurer, R., and Mitchell, O. S. (2005) Betting on death and capital markets in retirement: a shortfall risk analysis of life annuities versus phased withdrawal plans. Financial Services Review, 14: 169–196.
Feldstein, M. and Ranguelova, E. (2001) Individual risk in an investment-based social security system. American Economic Review, 91(4): 1116–1125.
Gerrard, R., Haberman, S., and Vigna, E. (2004) Optimal investment choices post-retirement in a defined contribution pension scheme. Insurance: Mathematics and Economics, 35(2): 321–342.
Gomes, F. and Michaelides, A. (2005) Optimal life-cycle asset allocation: understanding the empirical evidence. Journal of Finance, 60: 869–904.
Horneff, W. J., Maurer, R., Mitchell, O. S., and Dus, I. (2008) Following the rules: integrating asset allocation and annuitization in retirement portfolios. Insurance: Mathematics and Economics, 42: 396–408.
Horneff, W. J., Maurer, R., and Stamos, M. (2008a) Life-cycle asset allocation with annuity markets. Journal of Economic Dynamics and Control, 32: 3590–3612.
Horneff, W. J., Maurer, R., and Stamos, M. (2008b) Optimal gradual annuitization: quantifying the costs of switching to annuities. The Journal of Risk and Insurance, 75: 1019–1038.
Kaplan, P. D. (2006) Asset allocation with annuities for retirement income management. Journal of Wealth Managament, 8(4): 27–40.
Kapur, S. and Orszag, J. (1999) A portfolio approach to investments and annuitization during retirement. Working Paper, Birbeck College, University of London, UK.
Kingston, G. and Thorp, S. (2005) Annuitization and asset allocation with HARA utility. Journal of Pension Economics and Finance, 4: 225–248.
Koijen, R. S., Nijman, T., and Werker, B. J. M. (2006) Optimal portfolio choice with annuitization. Working Paper, Center for Economic Research, Tilburg University.
McKinsey, (2006) Cracking the Consumer Retirement Code. McKinsey & Co.
Milevsky, M. A. (1998) Optimal asset allocation towards the end of the life cycle: to annuitize or not to annuitize? Journal of Risk and Insurance, 65(3): 401–426.
Milevsky, M. A. (2002) How to completely avoid outliving your money: an introduction to variable payout annuities for retiring Canadians. Working Paper, IFID Centre, The Schulich School of Business, York University, Toronto, Canada.
Milevsky, M. A. and Young, V. (2002) Optimal asset allocation and the real option to delay annuitization. Working Paper, IFID Centre, Schulich School of Business, York University, Toronto, Canada.
Milevsky, M. A. and Young, V. (2006) The timing of annuitization: investment dominance and mortality risk. Insurance: Mathematics and Economics, 40(1): 135–144.
Milevsky, M. A. and Young, V. (2007) Annuitization and asset allocation. Journal of Economic Dynamics and Control, 31: 3138–3177.
Milevsky, M. A., Moore, K. S., and Young, V. (2006) Asset allocation and annuity-purchases strategies to minimize the probability of financial ruin. Mathematical Finance, 16(4): 647–671.
Mitchell, O. S., Poterba, J., Warshawsky, M., and Brown, J. (1999) New evidence on the money's worth of individual annuities. American Economic Review, 89: 1299–1318.
Purcell, P. (2006) Summary of the Pension Protection Act of 2006. Congressional Research Service, Domestic Social Policy Division, Working Paper, US Congress.
Stabile, G. (2003) Optimal timing of the annuity purchases: a combined stochastic control and optimal stopping problem. Working Paper, Universita degli Studi La Sapienza di Roma, Rome, Italy.
Yaari, M. (1965) Uncertain lifetime, life insurance, and the theory of the consumer. Review of Economic Studies, 32: 137–150.
Yagi, T. and Nishigaki, Y. (1993) The inefficiency of private constant annuities. The Journal of Risk and Insurance, 60(3): 385–412.
Young, L. (2004) Funds that adjust as the years go by. Business Week, 26 July.