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Private markets took off because the public markets option was virtually closed to tech companies and big companies were being less acquisitive.
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The premium they receive is political popularity for opposing the demands of international creditors, in the case of Greece, or for asserting Britain's sovereignty, in Mr Cameron's.But in the financial markets, option-writing is a very risky strategy, unless the position is properly hedged.
This means taking the open market option and comparing annuity rates.
Considering they perform the same basic function, the rational choice would be the market option.
For the second, I went with the upbeat, down-market option: the circus.
The best marketing option of all is still absent – free-to-air television coverage.
However, as the company doesn't pay to appear on comparison sites, you'll need to select the 'whole of market' option to find it.
Instead of exercising the open-market option, most savers are choosing to simply accept the annuity income offered by their pension company.
Certainly, the failure of Britons to shop around for the best rate when they retire (the so-called open-market option) means that some lose out.
But the problem was the failure of consumers to use the "open market option" - the right to buy an annuity from the provider offering the best rate.
Research compiled by the pensions watchdog shows that exercising the open market option can add upwards of 17 per cent to a person's retirement income.
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