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Cost Benefit Analysis, Value Of A Statistical Life And Culture: Challenges For Risk Regulation

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Author Info
Marquez, Pablo

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Abstract

The author studies three aspects of human live valuation and its relation with cost benefit analysis and regulation. More precisely the author addresses the problem of valuation of a statistical human life and its relation with cost benefit analysis in mortality risk reduction. First, studies the debate about Valuation of a Statistical Human Life (VSL) and Cost-Benefit Analysis (CBA) in mortality risks regulation; second, deals with two challenges to CBA and VSL, these are (a) the problem of discount rates and the problem of (dis)counting of future human lives, and (b), tests if culture (represented as a set of values) has an incidence in risk preferences and therefore, in willingness to pay for life in different countries.

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File URL: http://mpra.ub.uni-muenchen.de/2632/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 2632.

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Date of creation: Dec 2006
Date of revision: Feb 2007
Handle: RePEc:pra:mprapa:2632

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Related research
Keywords: Cost Benefit Analysis Value of a Statistical Life Culture Consequences Regulation Cross-country analysis

Find related papers by JEL classification:
K32 - Law and Economics - - Other Substantive Areas of Law - - - Environmental, Health, and Safety Law
K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability
K29 - Law and Economics - - Regulation and Business Law - - - Other
K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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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. W. Kip Viscusi, 1994. "Mortality Effects of Regulatory Costs and Policy Evaluation Criteria," RAND Journal of Economics, The RAND Corporation, vol. 25(1), pages 94-109, Spring. [Downloadable!] (restricted)
  2. Sunstein, Cass R, 2000. "Cognition and Cost-Benefit Analysis," Journal of Legal Studies, University of Chicago Press, vol. 29(2), pages 1059-1103, June.
  3. Amartya Sen, 1997. "Maximization and the Act of Choice," Econometrica, Econometric Society, vol. 65(4), pages 745-780, July.
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  4. Viscusi, W Kip, 1978. "Wealth Effects and Earnings Premiums for Job Hazards," The Review of Economics and Statistics, MIT Press, vol. 60(3), pages 408-16, August. [Downloadable!] (restricted)
  5. Jones-Lee, M W, 1992. "Paternalistic Altruism and the Value of Statistical Life," Economic Journal, Royal Economic Society, vol. 102(410), pages 80-90, January. [Downloadable!] (restricted)
  6. Francois, P. & Zabojnik, J., 2001. "Culture and development : an analytical framework," Discussion Paper 25, Tilburg University, Center for Economic Research. [Downloadable!]
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