Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71851
Authors: 
Leiter, Andrea
Thöni, Magdalena
Winner, Hannes
Year of Publication: 
2010
Series/Report no.: 
Working Papers in Economics and Finance, University of Salzburg 2010-11
Abstract: 
This paper provides a framework to evaluate human life based on civil 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. 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.
Subjects: 
Pain and suffering
Value of Statistical Life (VSL)
Quality Adjusted Life Years (QALY)
tort law
JEL: 
I10
J17
K13
Document Type: 
Working Paper

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