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On the Value of Cha...
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Johannesson, MagnusStockholm School of Economics,Handelshögskolan i Stockholm
(författare)
On the Value of Changes in Life Expectancy: Blips versus Parametric Changes
- Artikel/kapitelEngelska1997
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LIBRIS-ID:oai:hhs.se:1155789250006056
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https://research.hhs.se/esploro/outputs/journalArticle/On-the-Value-of-Changes-in/991001484689506056URI
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https://doi.org/10.1023/A:1007705309543DOI
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Språk:engelska
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Sammanfattning på:engelska
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We estimate the value of a 'blip', i.e. an immediate small reduction, in the hazard rate for a random sample of Swedes. Since the risk reduction is age-independent (2 'extra saved lives' out of 10,000 during the next year), we can examine how the value of a statistical life varies with age. We also show how blip data can be used to obtain a lower bound for the value of a permanent change in an individual's hazard rate. The value of a life exhibits an inverted-U shape with respect to age, peaking at the age of 40, and lies within the $3 to $7 million interval where most reasonable estimates are clustered according to Viscusi's (1992) survey.
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Johansson, Per-OlovStockholm School of Economics,Handelshögskolan i Stockholm(Swepub:hhs)203@hhs.se
(författare)
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Lofgren, Karl-GustafUmeå University
(författare)
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Handelshögskolan i StockholmStockholm School of Economics
(creator_code:org_t)
Sammanhörande titlar
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Ingår i:Journal of risk and uncertainty: Springer Nature15:3, s. 221-2391573-04760895-5646
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