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Recognizing progeny in the value of life

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  • Kuhn, Michael
  • Wrzaczek, Stefan
  • Oeppen, Jim

Abstract

This note generalizes the value of life to incorporate the preferences for descendants of a dynastically altruistic decision-maker. It derives the value of progeny and shows how it depends on the Benthamite vs. Millian nature of dynastic altruism.

Suggested Citation

  • Kuhn, Michael & Wrzaczek, Stefan & Oeppen, Jim, 2010. "Recognizing progeny in the value of life," Economics Letters, Elsevier, vol. 107(1), pages 17-21, April.
    • Handle: RePEc:eee:ecolet:v:107:y:2010:i:1:p:17-21
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    Citations

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    Cited by:

    1. Kuhn, Michael & Frankovic, Ivan & Wrzaczek, Stefan, 2017. "Medical Progress, Demand for Health Care, and Economic Performance," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168249, Verein für Socialpolitik / German Economic Association.
    2. Wrzaczek, Stefan & Kuhn, Michael & Prskawetz, Alexia & Feichtinger, Gustav, 2010. "The reproductive value in distributed optimal control models," Theoretical Population Biology, Elsevier, vol. 77(3), pages 164-170.
    3. Ivan Frankovic & Michael Kuhn & Stefan Wrzaczek, 2016. "Medical Care within an OLG Economy with Realistic Demography," VID Working Papers 1603, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
    4. Kuhn, Michael & Wrzaczek, Stefan & Prskawetz, Alexia & Feichtinger, Gustav, 2015. "Optimal choice of health and retirement in a life-cycle model," Journal of Economic Theory, Elsevier, vol. 158(PA), pages 186-212.
    5. Ivan Frankovic & Michael Kuhn & Stefan Wrzaczek, 2020. "On the Anatomy of Medical Progress Within an Overlapping Generations Economy," De Economist, Springer, vol. 168(2), pages 215-257, June.
    6. Kuhn, Michael & Wrzaczek, Stefan & Prskawetz, Alexia & Feichtinger, Gustav, 2011. "Externalities in a life cycle model with endogenous survival," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 627-641.
    7. Michael Kuhn & Alexia Prskawetz & Uwe Sunde, 2014. "Health, education, and retirement over the prolonged life cycle: a selective survey of recent research," Vienna Yearbook of Population Research, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna, vol. 12(1), pages 1-22.
    8. Stefan Wrzaczek & Michael Kuhn & Ivan Frankovic, 2020. "Using Age Structure for a Multi-stage Optimal Control Model with Random Switching Time," Journal of Optimization Theory and Applications, Springer, vol. 184(3), pages 1065-1082, March.

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