Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171576
Authors: 
Bommier, Antoine
Villeneuve, Bertrand
Year of Publication: 
2010
Series/Report no.: 
Economics Working Paper Series 10/133
Abstract: 
The standard literature on the value of life relies on Yaari’s (1965) model, which includes an implicit assumption of risk neutrality with respect to life duration. To overpass this limitation, we extend the theory to a simple variety of preferences which are not necessarily additively separable. The enlargement we propose is relevant for the evaluation of life-saving programs: current practice, we estimate, puts too little weight on mortality risk reduction of the young. Our correction exceeds in magnitude that introduced by the switch from the notion of number of lives saved to the notion of years of life saved.
Subjects: 
Value of Statistical Life
Lifecycle Behavior
Cost-benefit Analysis
JEL: 
D61
D81
D91
I18
J17
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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