Discount Rate for Health Benefits and the Value of Life in India
AbstractThis study contributes to the literature by estimating discount rate for environmental health benefits and value of statistical life of workers in India. The discount rate is imputed from wage-risk trade-offs in which workers decide whether to accept a risky job with higher wages. The estimated real discount rate ranges between 2.7 and 3 percent, which is closer to the financial market rate for the study period and consistent with earlier studies from developed nations. The estimated value of life is Rs. 20 (US $ 1.107) million. The results of the study can aid policymakers, international agencies and other researchers in evaluating health projects in India and other developing countries.
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Bibliographic InfoPaper provided by Madras School of Economics,Chennai,India in its series Working Papers with number 2011-060.
Length: 29 pages
Date of creation: Aug 2011
Date of revision:
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Expected length of life; value of statistical life; time preference rate;
Other versions of this item:
- K. R. Shanmugam, 2011. "Discount Rate for Health Benefits and the Value of Life in India," Working Papers id:4524, eSocialSciences.
- J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
- J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
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