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space0.5in A 3.8% Discount Rate?

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  • Hartwick, John

Abstract

We find that a discount rate of 3.8% allows us to derive the schedule of "value of life years" in Murphy and Topel [2006] from their schedule of "value of remaining years of life", this latter presumably being based on a "value of statistical life" of $6.3 milliion. We draw on the Makeham function for life expectancy in our calculation.

Suggested Citation

  • Hartwick, John, 2009. "space0.5in A 3.8% Discount Rate?," Queen's Economics Department Working Papers 273685, Queen's University - Department of Economics.
    • Handle: RePEc:ags:quedwp:273685
    DOI: 10.22004/ag.econ.273685
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    References listed on IDEAS

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    1. W. Kip Viscusi, 2004. "The Value of Life: Estimates with Risks by Occupation and Industry," Economic Inquiry, Western Economic Association International, vol. 42(1), pages 29-48, January.
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