Evaluating human life using court decisions on damages for pain and suffering
This paper provides a framework to evaluate human life based on court decisions on damages for pain and suffering. Using judgements from Germany and Austria over the last 25 years, we calculate an average Value of Damages for Pain and Suffering (VDPS) of about EUR 1.79 millions, with a minimum (maximum) of around EUR 0.67 (4.62) millions. These values are broadly in line with the ones from previous studies. However, our approach also allows to calculate the value of body parts and body functions, which might be of interest if information on the benefit of an individual’s change in life quality is not (entirely) available (e.g., decisions to provide specific health services).
|Date of creation:||15 Aug 2010|
|Date of revision:|
|Contact details of provider:|| Postal: Residenzplatz 9, 5010 Salzburg|
Phone: +43 662 8044-3770
Fax: +43 662 8044-3770
Web page: http://www.uni-salzburg.at/index.php?id=31318
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hannes Spengler & Sandra Schaffner, 2007.
"Using Job Changes to Evaluate the Bias of the Value of a Statistical Life,"
Discussion Papers of DIW Berlin
713, DIW Berlin, German Institute for Economic Research.
- Spengler, Hannes & Schaffner, Sandra, 2007. "Using Job Changes to Evaluate the Bias of the Value of a Statistical Life," Ruhr Economic Papers 14, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
- Milton C. Weinstein & Donald S. Shepard & Joseph S. Pliskin, 1980. "The Economic Value of Changing Mortality Probabilities: A Decision-Theoretic Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 94(2), pages 373-396.
- Jones-Lee, Michael W, 1974. "The Value of Changes in the Probability of Death or Injury," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 835-49, July/Aug..
- Anderson, James M & Kling, Jeffrey R & Stith, Kate, 1999.
"Measuring Interjedge Sentencing Disparity: Before and After the Federal Sentencing Guidelines,"
Journal of Law and Economics,
University of Chicago Press, vol. 42(1), pages 271-307, April.
- Anderson, J.M. & Kling, J.R. & Stith, K., 1999. "Measuring Inter-Judge Sentencing Disparity Before and After the Federal Sentencing Guidelines," Papers 207, Princeton, Woodrow Wilson School - Public and International Affairs.
- W. Viscusi, 2008. "How to value a life," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 32(4), pages 311-323, October.
- repec:reg:rpubli:282 is not listed on IDEAS
- Lott, John R, Jr & Manning, Richard L, 2000. "Have Changing Liability Rules Compensated Workers Twice for Occupational Hazards? Earnings Premiums and Cancer Risks," The Journal of Legal Studies, University of Chicago Press, vol. 29(1), pages 99-130, January.
- Viscusi, W Kip, 1993. "The Value of Risks to Life and Health," Journal of Economic Literature, American Economic Association, vol. 31(4), pages 1912-46, December.
- Johansson,Per-Olov, 1995. "Evaluating Health Risks," Cambridge Books, Cambridge University Press, number 9780521478786, November.
- Drummond, Michael F. & Sculpher, Mark J. & Torrance, George W. & O'Brien, Bernie J. & Stoddart, Greg L., 2005. "Methods for the Economic Evaluation of Health Care Programmes," OUP Catalogue, Oxford University Press, edition 3, number 9780198529453, December.
- Johansson,Per-Olov, 1995. "Evaluating Health Risks," Cambridge Books, Cambridge University Press, number 9780521472852, November.
- Johannesson, Magnus & Johansson, Per-Olov & O'Conor, Richard M., 1996.
"The Value of Private Safety versus the Value of Public Safety,"
SSE/EFI Working Paper Series in Economics and Finance
103, Stockholm School of Economics.
- Johannesson, Magnus & Johansson, Per-Olov & O'Conor, Richard M, 1996. "The Value of Private Safety versus the Value of Public Safety," Journal of Risk and Uncertainty, Springer, vol. 13(3), pages 263-75, November.
- Viscusi, W Kip & Aldy, Joseph E, 2003.
"The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World,"
Journal of Risk and Uncertainty,
Springer, vol. 27(1), pages 5-76, August.
- W. Kip Viscusi & Joseph E. Aldy, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," NBER Working Papers 9487, National Bureau of Economic Research, Inc.
- Cameron,A. Colin & Trivedi,Pravin K., 2005. "Microeconometrics," Cambridge Books, Cambridge University Press, number 9780521848053, November.
When requesting a correction, please mention this item's handle: RePEc:ris:sbgwpe:2010_011. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jörg Paetzold)
If references are entirely missing, you can add them using this form.