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. Author manuscript; available in PMC: 2010 Jun 29.
Published in final edited form as: Econometrica. 2010 May 1;78(3):1031–1092. doi: 10.3982/ECTA7245

Table I.

Summary statistics

60 Females 65 Females 60 Males 65 Males All
No. of obs. 1,800 651 1,444 5,469 9,364
Fraction choosing 0 year guarantee 14.0 16.0 15.3 7.0 10.2
Fraction choosing 5 year guarantee 83.9 82.0 78.7 90.0 86.5
Fraction choosing 10 year guarantee 2.1 2.0 6.0 3.0 3.2
Fraction who die within observed mortality period:
    Entire sample 8.4 12.3 17.0 25.6 20.0
    Among those choosing 0 year guarantee 6.7 7.7 17.7 22.8 15.7
    Among those choosing 5 year guarantee 8.7 13.3 17.0 25.9 20.6
    Among those choosing 10 year guarantee 8.1 7.7 16.1 22.9 18.5

Recall that we only observe individuals who are alive as of January 1, 1998, and we observe mortality only for individuals who die before December 31, 2005.