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...

The connection between violence victimization and long term ill-health is well documen­ted, but evidence is lacking on the causal effects of victimization beyond the time of the immediate injury. The aim of this study is to identify and estimate the longer term consequences of interpersonal...

Economists have long employed hedonic wage analysis to estimate income-fatality risk trade-offs, but some scholars have raised concerns about systematic measurement error and omitted variable bias in the empirical applications of this model. Recent studies have employed panel methods to remove...

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...

We find that a discount rate of 3.8% allows us to derive the schedule of value of life years in Murphy and Topel [2006] from their schedule of value of remaining years of life, this latter presumably being based on a value of statistical life of $6.3 million. We draw on the Makeham function for...

We find that a discount rate of 3.8% allows us to derive the schedule of "value of life years" in Murphy and Topel [2006] from their schedule of "value of remaining years of life", this latter presumably being based on a "value of statistical life" of $6.3 million. We draw on the Makeham...

We estimate the demand value of road safety improvements in Switzerland from survey data using a novel elicitation approach. Individuals’ responses to questions about how much public spending on road safety should be increased are combined with observations of income, tax rate, and road usage...

We study socially vs. individually optimal lifecycle allocations of consumption and health care, when individual health expenditure 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...