The discount rate and the value of remaining years of life

John Hartwick

We back out an estimate of a personal discount rate of between 3 and 4 percent for a person with a life expectancy of 74 years who dies at age 30 (or 40) and has a value of statistical life of $6.3 million. Central to these calculations is the series generated by Murphy and Topel of value of life years (the dollar value of consumption plus the dollar value of leisure, with some smoothing for income in retirement). We employ the Makeham "model" of life expectancy in our calculations. -- Discount rate ; Value of life

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Year of publication:	2008
Other Persons:	Hartwick, John M. (contributor)
Publisher:	Kingston : Queen's Economics Dep.
Subject:	Altersgruppe \| Age group \| Sterblichkeit \| Mortality \| Bewertung \| Evaluation \| Diskontierung \| Discounting \| Versicherungsmathematik \| Actuarial mathematics

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Extent:	Online-Ressource ([10] S.) graph. Darst.
Series:	Queen's Economics Department working paper. - Kingston, Ontario : [Verlag nicht ermittelbar], ZDB-ID 2272591-X. - Vol. 1191
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/67759 [Handle]
Classification:	J12 - Marriage; Marital Dissolution; Family Structure ; I12 - Health Production: Nutrition, Mortality, Morbidity, Substance Abuse and Addiction, Disability, and Economic Behavior
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003780901