Evaluating human life using court decisions on damages for pain and suffering
AbstractThis paper provides a framework to evaluate human life based on 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. These values are broadly in line with the ones from previous studies. However, 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 (e.g., decisions to provide specific health services).
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Bibliographic InfoPaper provided by University of Salzburg in its series Working Papers in Economics and Finance with number 2010-11.
Length: 23 pages
Date of creation: 15 Aug 2010
Date of revision:
Value of life; quality adjusted life years; value of body parts; tort law; pain and suffering;
Other versions of this item:
- Leiter, Andrea & Thöni, Magdalena & Winner, Hannes, 2012. "Evaluating human life using court decisions on damages for pain and suffering," International Review of Law and Economics, Elsevier, vol. 32(1), pages 119-128.
- I10 - Health, Education, and Welfare - - Health - - - General
- J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
- K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
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