Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/67759
Authors: 
Hartwick, John
Year of Publication: 
2008
Series/Report no.: 
Queen's Economics Department Working Paper 1191
Abstract: 
We back out an estimate of a personal discount rate of between 3 and 4 percent for a person with a life expectancy of 74 years who dies at age 30 (or 40) and has a value of statistical life of $6.3 million. Central to these calculations is the series generated by Murphy and Topel of value of life years (the dollar value of consumption plus the dollar value of leisure, with some smoothing for income in retirement). We employ the Makeham model of life expectancy in our calculations.
Subjects: 
Discount rate
Value of life
JEL: 
J12
I12
Document Type: 
Working Paper

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