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Are Some Lives More Valuable?

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Author Info
Johansson-Stenman, Olof (Department of Economics, School of Economics and Commercial Law, Göteborg University)
Martinsson, Peter () (Department of Economics, School of Economics and Commercial Law, Göteborg University)

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Abstract

A theoretical model of the ethical preferences of individuals is tested by conducting a choice experiment on safety-enhancing road investments. The relative value of a saved life is found to decrease with age, such that the present value of a saved year of life is almost independent of age at a pure rate of time preference of a few percent, and a saved car driver is valued 17-31% lower than a pedestrian of the same age. Moreover, individuals’ ethical preferences seem to be fairly homogenous.

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File URL: http://hdl.handle.net/2077/2787
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Publisher Info
Paper provided by Göteborg University, Department of Economics in its series Working Papers in Economics with number 96.

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Length: 19 pages
Date of creation: 28 Mar 2003
Date of revision:
Publication status: Published in Journal of Health Economics, 2008, pages 739-752.
Handle: RePEc:hhs:gunwpe:0096

Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, Göteborg University Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research
Keywords: Ethics; social preferences; individual social welfare function; relative value of life; random ethical model;

Find related papers by JEL classification:
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Hausman, Daniel M & McPherson, Michael S, 1993. "Taking Ethics Seriously: Economics and Contemporary Moral Philosophy," Journal of Economic Literature, American Economic Association, vol. 31(2), pages 671-731, June. [Downloadable!] (restricted)
  2. Easterlin, Richard A., 1995. "Will raising the incomes of all increase the happiness of all?," Journal of Economic Behavior & Organization, Elsevier, vol. 27(1), pages 35-47, June. [Downloadable!] (restricted)
  3. Kahneman, Daniel & Ritov, Ilana & Schkade, David A, 1999. "Economic Preferences or Attitude Expressions?: An Analysis of Dollar Responses to Public Issues," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 203-35, December. [Downloadable!] (restricted)
  4. Alberini Anna, 1995. "Optimal Designs for Discrete Choice Contingent Valuation Surveys: Single-Bound, Double-Bound, and Bivariate Models," Journal of Environmental Economics and Management, Elsevier, vol. 28(3), pages 287-306, May. [Downloadable!] (restricted)
  5. Cropper, Maureen L & Aydede, Sema K & Portney, Paul R, 1994. "Preferences for Life Saving Programs: How the Public Discounts Time and Age," Journal of Risk and Uncertainty, Springer, vol. 8(3), pages 243-65, May.
  6. Anand, Paul & Wailoo, Allan, 2000. "Utilities versus Rights to Publicly Provided Goods: Arguments and Evidence from Health Care Rationing," Economica, London School of Economics and Political Science, vol. 67(268), pages 543-77, November. [Downloadable!] (restricted)
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  7. Johannesson, Magnus & Johansson, Per-Olov, 1997. "Is the valuation of a QALY gained independent of age? Some empirical evidence," Journal of Health Economics, Elsevier, vol. 16(5), pages 589-599, October. [Downloadable!] (restricted)
  8. John C. Harsanyi, 1955. "Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility," Journal of Political Economy, University of Chicago Press, vol. 63, pages 309. [Downloadable!] (restricted)
  9. Subramanian, Uma & Cropper, Maureen, 2000. " Public Choices between Life Saving Programs: The Tradeoff between Qualitative Factors and Lives Saved," Journal of Risk and Uncertainty, Springer, vol. 21(1), pages 117-49, July. [Downloadable!] (restricted)
  10. Johannesson, Magnus & Johansson, Per-Olov, 1997. "Quality of life and the WTP for an increased life expectancy at an advanced age," Journal of Public Economics, Elsevier, vol. 65(2), pages 219-228, August. [Downloadable!] (restricted)
    Other versions:
  11. Olof Johansson-Stenman & Fredrik Carlsson & Dinky Daruvala, 2002. "Measuring Future Grandparents" Preferences for Equality and Relative Standing," Economic Journal, Royal Economic Society, vol. 112(479), pages 362-383, April. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Minhaj Mahmud, 2006. "Using Choice Experiments to Measure Relative Values of Statistical Lives: Evidence from Bangladesh," Keele Economics Research Papers KERP 2006/02, Centre for Economic Research, Keele University. [Downloadable!]
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