On the definition and age-dependency of the value of a statistical life : a review and extension

Per-Olov Johansson

The value of preventing a fatality or (saving) a statistical life is an important question in health economics as well as environmental economics. This paper reviews and adds new insights to several of the issues discussed in the literature. For example, how do we define the value of a (statistical) life? Are there really strong theoretical reasons for believing that the value of a life declines with age? The paper derives definitions of the value of a statistical life in both single-period models and life-cycle models. Models with and without actuarially fair annuities are examined, as well as the age-profile of the value of a statistical life. -- Value of a statistical life ; value of preventing a fatality ; age-specific values ; willingness to pay

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Year of publication:	Jan. 2002 ; [Elektronische Ressource], Rev. January 29, 2002
Other Persons:	Johansson, Per-Olov (contributor)
Institutions:	Ekonomiska forskningsinstitutet <Stockholm> (contributor)
Publisher:	Stockholm : Ekonomiska Forskningsinst.
Subject:	Sterblichkeit \| Mortality \| Statistische Methode \| Statistical method \| Theorie \| Theory

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Extent:	Online-Ressource (PDF-Datei: 32 S., 235,31 KB) graph. Darst.
Series:	SSE EFI working paper series in economics and finance. - Stockholm : [Verlag nicht ermittelbar], ISSN 1402-9928, ZDB-ID 2544040-8. - Vol. 490
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	nBibliography Systemvoraussetzungen: Acrobat reader
Other identifiers:	hdl:10419/56142 [Handle]
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; D61 - Allocative Efficiency; Cost-Benefit Analysis ; I10 - Health. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10001645580