Joint Life Annuities and Annuity Demand by Married Couples

This paper explores the value of purchasing joint life annuities for married couples. It describes the existing market for joint life annuities, and summarizes the range of annuity products that are currently available to couples. It then considers the value that married couples would place on access to an actuarially fair annuity market, and defines a measure of willingness-to-pay for annuities. This calculation differs from the analogous one for a single individual for two reasons. First, joint-and-survivor life tables differ from individual life tables. The life expectancy of the second-to-die in a married couple is substantially greater than that for a single individual. Second, joint life annuities provide time-varying payouts, because survivor benefit options permit the payout when both members of a couple are alive to differ from that when one member has died. The paper develops a new annuity valuation model and applies it to evaluate a married couple's utility gain from annuitization. The findings suggest that previous estimates of the utility gain from annuitization, which applied to individuals, overstate the benefits of annuitization for married couples. Since most potential annuity buyers are married, these findings may help to explain the limited size of the private market for single premium annuities.

Manual-assisted cognitive therapy for self-harm in personality disorder and substance misuse: a feasibility trial

<b>Aims and method</b> To assess the feasibility of conducting a larger, definitive randomised controlled trial of manual-assisted cognitive therapy (MACT), a brief focused therapy to address self-harm and promote engagement in services. We established recruitment, randomisation and assessment of outcome within a sample of these complex patients admitted to a general hospital following self-harm. We assessed symptoms of depressed mood, anxiety and suicidality at baseline and at 3 months’ follow-up.<p></p> <b>Results</b> Twenty patients were randomised to the trial following an index episode of self-harm, and those allocated to MACT demonstrated improvement in anxiety, depression and suicidal ideation.<p></p> <b>Clinical implications</b> It is feasible to recruit a sample of these complex patients to a randomised controlled trial of MACT following an index episode of self-harm. There is preliminary support that MACT could be an acceptable and effective intervention in patients with personality disorder and substance misuse

Effect of Overstory Removal on Production of Shrubs and Sedge in a Northern Minnesota Bog

A vegetation survey of a northern Minnesota bog three years after the removal of portions of the overstory showed a decrease in total coverage but an increase in frequency of ericaceous shrubs. Dry weight sedge production was approximately five-fold greater in clearcut areas than under the original black spruce canopy

Teacher Evaluation Criteria: A Consensus in Eastern Kentucky

An applied project submitted in partial fulfillment of the requirements for the degree of Education Specialist at Morehead State University by James M. Brown in 1983