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Evaluating human life using court decisions on damages for pain and suffering

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  • Leiter, Andrea
  • Thöni, Magdalena
  • Winner, Hannes

Abstract

This paper provides a framework to evaluate human life based on civil court decisions on damages for pain and suffering. Using judgements from Germany and Austria over the last 25 years, we calculate an average Value of Damages for Pain and Suffering (VDPS) of about EUR 1.79 millions, with a minimum (maximum) of around EUR 0.67 (4.62) millions. Our approach also allows to calculate the value of body parts and body functions, which might be of interest if information on the benefit of an individual's change in life quality is not (entirely) available.

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Bibliographic Info

Article provided by Elsevier in its journal International Review of Law and Economics.

Volume (Year): 32 (2012)
Issue (Month): 1 ()
Pages: 119-128

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Handle: RePEc:eee:irlaec:v:32:y:2012:i:1:p:119-128

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Web page: http://www.elsevier.com/locate/irle

Related research

Keywords: Pain and suffering; Value of statistical life (VSL); Quality adjusted life years (QALY); Tort law;

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Cited by:
  1. Rathner, Sebastian, 2012. "The Performance of Socially Responsible Investment Funds: A Meta-Analysis," Working Papers in Economics and Finance 2012-3, University of Salzburg.
  2. Rathner, Sebastian, 2013. "The Relative Performance of Socially Responsible Investment Funds. New Evidence from Austria," Working Papers in Economics and Finance 2013-1, University of Salzburg.
  3. Oberhofer, Harald & Stöckl, Matthias & Winner, Hannes, 2012. "The Wage Premium of Globalization: Evidence from European Mergers and Acquisitions," Working Papers in Economics and Finance 2012-1, University of Salzburg.
  4. Verhoest, Koen & Petersen, Ole Helby & Scherrer, Walter & Murwantara Soecipto, Raden, 2014. "Policy commitment, legal and regulatory framework, and institutional support for PPP in international comparison: Indexing countries’ readiness for taking up PPP," Working Papers in Economics and Finance 2014-3, University of Salzburg.
  5. Furlan, Benjamin & Oberhofer, Harald & Winner , Hannes, 2014. "A Note on Merger and Acquisition Evaluation," Working Papers in Economics and Finance 2014-2, University of Salzburg.

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