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Measuring Risk Reduction Benefits with Discounted Longevity

Author

Listed:
  • Robert F. Bordley

    (General Motors Research Laboratories, Warren, Michigan)

Abstract

There are many ways to assess the benefits and costs of risk-reduction policies. This paper shows that discounted longevity as a measure of benefits and the negative of net output as a measure of costs can be deduced from the Shepard and Zeckhauser utility-maximization model.

Suggested Citation

  • Robert F. Bordley, 1990. "Measuring Risk Reduction Benefits with Discounted Longevity," Operations Research, INFORMS, vol. 38(5), pages 815-819, October.
    • Handle: RePEc:inm:oropre:v:38:y:1990:i:5:p:815-819
    DOI: 10.1287/opre.38.5.815
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    Cited by:

    1. Rackwitz, Rüdiger, 2006. "The effect of discounting, different mortality reduction schemes and predictive cohort life tables on risk acceptability criteria," Reliability Engineering and System Safety, Elsevier, vol. 91(4), pages 469-484.

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