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Discounting and the Evaluation of Lifesaving Programs

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  • Cropper, Maureen L
  • Portney, Paul R

Abstract

The evaluation of lifesaving programs whose benefits extend into the future involves two discounting issues. The intragenerational discounting problem is how to express, in age-j dollars, reductions in an individual's conditional probability of dying at some future age k. Havig discounted future lifesaving benefits to the beginning of each individual's life, one is faced with the problem of discounting these benefits to the present--the intergenerational discounting problem. We discuss both problems from the perspectives of cost-benefit and cost-effectiveness analyses. These principles are then applied to lifesaving programs that involve a latency period. Copyright 1990 by Kluwer Academic Publishers

Suggested Citation

  • Cropper, Maureen L & Portney, Paul R, 1990. "Discounting and the Evaluation of Lifesaving Programs," Journal of Risk and Uncertainty, Springer, vol. 3(4), pages 369-379, December.
    • Handle: RePEc:kap:jrisku:v:3:y:1990:i:4:p:369-79
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    Citations

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    Cited by:

    1. Anna Alberini & Stefania Tonin & Margherita Turvani, 2009. "Rates of Time Preferences for Saving Lives in the Hazardous Waste Site Context," Working Papers 2009.3, Fondazione Eni Enrico Mattei.
    2. Carson, Richard T & Mitchell, Robert Cameron, 2000. "Public Preferences Towards Environmental Risks: The Case of Trihalomethanes," University of California at San Diego, Economics Working Paper Series qt12t5g549, Department of Economics, UC San Diego.
    3. James Hammitt & Jin-Tan Liu, 2004. "Effects of Disease Type and Latency on the Value of Mortality Risk," Journal of Risk and Uncertainty, Springer, vol. 28(1), pages 73-95, January.
    4. Fenling Feng & Chengguang Liu & Jiaqi Zhang, 2020. "China's Railway Transportation Safety Regulation System Based on Evolutionary Game Theory and System Dynamics," Risk Analysis, John Wiley & Sons, vol. 40(10), pages 1944-1966, October.
    5. Alberini, Anna & Chiabai, Aline, 2006. "Discount Rates in Risk v. Money and Money v. Money Tradeoffs," Sustainability Indicators and Environmental Valuation Working Papers 12209, Fondazione Eni Enrico Mattei (FEEM).
    6. Richard T. Carson & Robert Cameron Mitchell, 2006. "Public Preferences Toward Environmental Risks: The Case of Trihalomethanes," Chapters, in: Anna Alberini & James R. Kahn (ed.), Handbook on Contingent Valuation, chapter 19, Edward Elgar Publishing.
    7. Erik Nord, 2011. "Discounting future health benefits: the poverty of consistency arguments," Health Economics, John Wiley & Sons, Ltd., vol. 20(1), pages 16-26, January.
    8. Delucchi, Mark A., 2004. "Some Conceptual and Methodological Issues in the Analysis of the Social Cost of Motor-Vehicle Use. Report #2 in the series: The Annualized Social Cost of Motor-Vehicle Use in the United States, based ," Institute of Transportation Studies, Working Paper Series qt4331q870, Institute of Transportation Studies, UC Davis.
    9. Preston Greene, 2024. "Social bias, not time bias," Politics, Philosophy & Economics, , vol. 23(1), pages 100-121, February.
    10. Delucchi, Mark A., 2004. "Some Conceptual and Methodological Issues in the Analysis of the Social Cost of Motor-Vehicle Use: Report #2 in the Series: The Annualized Social Cost of Motor-Vehicle Use in the United States, based ," Institute of Transportation Studies, Working Paper Series qt5pj8r7pq, Institute of Transportation Studies, UC Davis.
    11. McDonald, R.L. & Chilton, S.M. & Jones-Lee, M.W. & Metcalf, H.R.T., 2017. "Evidence of variable discount rates and non-standard discounting in mortality risk valuation," Journal of Environmental Economics and Management, Elsevier, vol. 82(C), pages 152-167.
    12. Cropper, Maureen L & Oates, Wallace E, 1992. "Environmental Economics: A Survey," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 675-740, June.
    13. Magnus Johannesson & Per‐Olov Johansson, 1996. "The discounting of lives saved in future generations—some empirical results," Health Economics, John Wiley & Sons, Ltd., vol. 5(4), pages 329-332, July.
    14. Robert Baldwin, 2008. "Regulation lite: The rise of emissions trading," Regulation & Governance, John Wiley & Sons, vol. 2(2), pages 193-215, June.
    15. Garrett C. Waycaster & Taiki Matsumura & Volodymyr Bilotkach & Raphael T. Haftka & Nam H. Kim, 2018. "Review of Regulatory Emphasis on Transportation Safety in the United States, 2002–2009: Public versus Private Modes," Risk Analysis, John Wiley & Sons, vol. 38(5), pages 1085-1101, May.
    16. Theodore G. Ganiats & Richard T. Carson & Robert M. Hamm & Scott B. Cantor & Walton Sumner & Stephen J. Spann & Michael D. Hagen & Christopher Miller, 2000. "Population-based Time Preferences for Future Health Outcomes," Medical Decision Making, , vol. 20(3), pages 263-270, July.
    17. Hugh Gravelle & Dave Smith, 2001. "Discounting for health effects in cost–benefit and cost‐effectiveness analysis," Health Economics, John Wiley & Sons, Ltd., vol. 10(7), pages 587-599, October.

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