Before revision:  The estimates also suggest that almost half the retirees who choose an annuity do not value bequest, and firms are more likely to have low annuitization cost for retirees in the top two savings deciles.
After revision:  The estimates also suggest that almost half the retirees who choose an annuity do not value bequests, (3) information processing costs are larger for low savers and for those who receive advise from sales-agent, and (4) firms are more likely to have low annuitization cost for retirees in the top two savings deciles.