IDEAS home Printed from https://ideas.repec.org/a/cup/jpenef/v9y2010i02p219-234_99.html
   My bibliography  Save this article

To work or to work out: a moral-hazard interpretation of labor supply, retirement, and investments in longevity

Author

Listed:
  • HUPFELD, STEFAN

Abstract

In a moral-hazard model with multiple tasks, an agent engages in different activities, labelled work, delayed retirement, and work out (investments in longevity). The latter imposes higher effort costs on weekly labor supply, but increases possibilities for life time labor supply. Work out does not affect aggregate output and does therefore not accrue to the benefit of the principal. Second-best incentives for work out are U-shaped in the agent's ability, and so is the effort level supplied by the agent. These theoretical findings are supported by recent empirical evidence on longevity, which is not always monotonically increasing in ability.

Suggested Citation

  • Hupfeld, Stefan, 2010. "To work or to work out: a moral-hazard interpretation of labor supply, retirement, and investments in longevity," Journal of Pension Economics and Finance, Cambridge University Press, vol. 9(2), pages 219-234, April.
    • Handle: RePEc:cup:jpenef:v:9:y:2010:i:02:p:219-234_99
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1474747209990151/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jpenef:v:9:y:2010:i:02:p:219-234_99. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/pef .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.