Altruism and the Value of Other People's Safety
AbstractThis article considers the manner in which people's altruistic concern for other people's safety should be incorporated in willingness-to-pay based values of statistical life and safety. It is shown that, within a utilitarian framework, the traditional prescription that such values should take full account of people's willingness to pay for others' safety is valid if and only if altruism is exclusively safety-focused, in the sense that while i is concerned for j's safety, he is quite indifferent to other determinants of j's utility. Copyright 1991 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Risk and Uncertainty.
Volume (Year): 4 (1991)
Issue (Month): 2 (April)
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Web page: http://www.springerlink.com/link.asp?id=100299
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