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We develop an experimental method to elicit subjective beliefs about the ordering of mortality risk over different … mortality risks, and therefore to get reliable estimates of the monetary value of a statistical life …
Persistent link: https://www.econbiz.de/10014065868
We analyze lifecycle saving strategies using a recursive utility model calibrated to match empirical estimates for the value of a statistical life. We show that, with a positive value of life, risk aversion reduces savings and annuity purchase. Risk averse agents are willing to make an early...
Persistent link: https://www.econbiz.de/10012835051
We analyze lifecycle saving strategies using a recursive utility model calibrated to match empirical estimates for the value of a statistical life. We show that, with a positive value of life, risk aversion reduces savings and annuity purchase. Risk averse agents are willing to make an early...
Persistent link: https://www.econbiz.de/10012854669
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