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Recognizing progeny in the value of life

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

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.

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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 107 (2010)
Issue (Month): 1 (April)
Pages: 17-21

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Handle: RePEc:eee:ecolet:v:107:y:2010:i:1:p:17-21
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  1. Orley Ashenfelter, 2006. "Measuring the Value of a Statistical Life: Problems and Prospects," NBER Working Papers 11916, National Bureau of Economic Research, Inc.
  2. Murray, Christopher J. L. & Acharya, Arnab K., 1997. "Understanding DALYs," Journal of Health Economics, Elsevier, vol. 16(6), pages 703-730, December.
  3. Sherwin Rosen, . "The Value of Changes in Life Expectancy," University of Chicago - Population Research Center 87-14, Chicago - Population Research Center.
  4. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-55, March-Apr.
  5. Robert E. Hall & Charles I. Jones, 2007. "The Value of Life and the Rise in Health Spending," The Quarterly Journal of Economics, Oxford University Press, vol. 122(1), pages 39-72.
  6. Ehrlich, Isaac, 2000. "Uncertain lifetime, life protection, and the value of life saving," Journal of Health Economics, Elsevier, vol. 19(3), pages 341-367, May.
  7. Erik Canton & Lex Meijdam, 1997. "Altruism and the macroeconomic effects of demographic changes," Journal of Population Economics, Springer, vol. 10(3), pages 317-334.
  8. Gary Becker & Kevin Murphy & Tomas Philipson, 2007. "The Value of Life Near its End and Terminal Care," NBER Working Papers 13333, National Bureau of Economic Research, Inc.
  9. Barro, Robert J & Becker, Gary S, 1989. "Fertility Choice in a Model of Economic Growth," Econometrica, Econometric Society, vol. 57(2), pages 481-501, March.
  10. Blackorby,Charles & Bossert,Walter & Donaldson,David J., 2005. "Population Issues in Social Choice Theory, Welfare Economics, and Ethics," Cambridge Books, Cambridge University Press, number 9780521532587.
  11. Basu, Anirban & Meltzer, David, 2005. "Implications of spillover effects within the family for medical cost-effectiveness analysis," Journal of Health Economics, Elsevier, vol. 24(4), pages 751-773, July.
  12. Kenneth J. Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003. "The genuine savings criterion and the value of population," Economic Theory, Springer, vol. 21(2), pages 217-225, 03.
  13. Assaf Razin & Efraim Sadka, 1995. "Population Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262181606, June.
  14. Donald S. Shepard & Richard J. Zeckhauser, 1984. "Survival versus Consumption," Management Science, INFORMS, vol. 30(4), pages 423-439, April.
  15. Partha Dasgupta, 1995. "The Population Problem: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 33(4), pages 1879-1902, December.
  16. repec:reg:rpubli:132 is not listed on IDEAS
  17. Ehrlich, Isaac & Chuma, Hiroyuki, 1990. "A Model of the Demand for Longevity and the Value of Life Extension," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 761-82, August.
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