We study socially vs individually optimal life cycle allocations of consumption and health, when individual health care curbs own mortality but also has a spillover effect on other persons’ survival. Such spillovers arise, for instance, when health care activity at aggregate level triggers...

Este trabajo estima los costos en términos de pérdida de bienestar asociados con el aumento de la mortalidad generado por la violenciahomicida en Colombia en el período 1990-2005. Para ello se emplea el enfoque de valoración de la vida, teniendo en cuenta la distribuciónheterogénea de los...

We examine within a life-cycle set-up the simultaneous choice of health care and retirement (together with consumption), when health care contributes to both a reduction in mortality and in morbidity. Health tends to impact on retirement via morbidity, determining the disutility of work, and...

We examine within a life-cycle set-up the choice of health and retirement. Health care contributes to a reduction in both mortality, determining the need to accumulate retirement wealth, and in morbidity, determining the disutility of work. The retirement age affects health through the value of...

The objective of this study was to examine the factors used by juries to make their decisions on compensatory damages awarded for physical injuries in automobile crash cases involving driving under the influence of alcohol and to compute a value that juries might award for hypothetical total...

This paper develops an axiomatic construction of preferences that allows to compare lotteries involving lives of different lengths. Our axioms which basically formalize two assumptions - individuals are rational and have stationary preferences - leads to a class of utility functions that is much...

Abstract Objectives. This paper describes the methodology for estimating the present value of lifetime earnings (PVLE) for the year 2000. Methods. Estimation takes into account life expectancy by gender and age group, percent of people in the labor force or keeping house, current pattern of...

This study contributes to the literature by estimating discount rate for environmental health benefits and value of statistical life of workers in India. The discount rate is imputed from wage-risk trade-offs in which workers decide whether to accept a risky job with higher wages. The estimated...

Cost–benefit analysis (CBA) gives rise to a whole range of philosophical issues. The most discussed among these is the status of economic values that are assigned to assets conceived as incommensurable with money, such as a human life or the continued existence of an animal species. CBA...

This paper reports the first study of compensating wage differentials for work-related fatalities in an African country. Using original data from the 2002 Tunisian Caisse nationale de la sécurité sociale, statistically significant compensating wage differentials are found. The implied value of...