• Corpus ID: 1473320

Adverse Selection in the Irish Tontines of 1773, 1775 and 1777

@inproceedings{Li2014AdverseSI,
  title={Adverse Selection in the Irish Tontines of 1773, 1775 and 1777},
  author={Yikang Li},
  year={2014}
}
A \tontine" is a special kind of annuity in which all participants contribute equally to a subscription pool, and a xed percent of the total capital raised is distributed equally among surviving nominees every year. In this paper, we examine the adverse selection in the Irish tontines of 1773, 1775 and 1777 because of the presence of a group of speculative investors, namely a group of Genevan bankers. These Genevan investors purportedly cherry-picked nominees with greater expected longevity… 

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