This paper considers two societal concerns in addition to health maximisation: first, concerns for the societal value of lifetime health for an individual; and second, concerns for the value of lifetime health across individuals. Health-related social welfare functions (HRSWFs) have addressed...

In this paper, we seek to explore the effects of commuting time on the psychological well-being of men and women in the UK. We use annual data from the British Household Panel Survey in a fixed effects panel framework that includes variables known to determine well-being, as well as factors...

Expected Utility (EU) theory is the standard economic model of individual preferences under uncertainty. However, observed violations of the axioms of EU have generated interest in the incorporation of a stochastic element into deterministic models of decision-making. Previous empirical...