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The value of life extension and the marginal rate of time preference: a pilot study

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  • Magnus Johannesson
  • Per-Olov Johansson

Abstract

The aim of this paper is to introduce and test a new approach for the measurement of the marginal rate of time preference for life-years gained based on contingent valuation techniques. A simple binary willingness to pay question is administered in a general public sample of two age groups (34-5 years and 64-5 years). In this pilot study, the estimated marginal rate of time preference is 1.3%.

Suggested Citation

  • Magnus Johannesson & Per-Olov Johansson, 1997. "The value of life extension and the marginal rate of time preference: a pilot study," Applied Economics Letters, Taylor & Francis Journals, vol. 4(1), pages 53-55.
    • Handle: RePEc:taf:apeclt:v:4:y:1997:i:1:p:53-55
    DOI: 10.1080/758521833
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    Cited by:

    1. Jim Neumann & Harriet Greenwood, 2002. "Existing Literature and Recommended Strategies for Valuation of Children's Health Effects," NCEE Working Paper Series 200207, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Sep 2002.
    2. Andrew Meyer, 2013. "Estimating discount factors for public and private goods and testing competing discounting hypotheses," Journal of Risk and Uncertainty, Springer, vol. 46(2), pages 133-173, April.
    3. Kopp, Raymond J. & Krupnick, Alan J. & Toman, Michael, 1997. "Cost-Benefit Analysis and Regulatory Reform: An Assessment of the Science and the Art," Discussion Papers 10851, Resources for the Future.

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