Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71921
Authors: 
Leiter, Andrea M.
Year of Publication: 
2008
Series/Report no.: 
Working Papers in Economics and Statistics 2008-12
Abstract: 
It is still an ongoing discussion whether benefits resulting from reduced mortality risk should be valuated differently, depending on the age of the beneficiaries. Theory suggests that the influence of age on the value of statistical life (VSL), which is a monetary measure for reduced/prevented mortality risks, is ambiguous. Evidence from empirical studies leads to the same conclusion. The findings in this paper suggest that age becomes effective via age-dependent hazard rates. If a particular risk affects all individuals regardless of their age VSL is rather constant for differently aged people. These results may provide an explanation for the various outcomes in empirical studies.
Subjects: 
contingent valuation
risk prevention
age effects
value of statistical life
risk exposure
JEL: 
D81
J17
Q26
Document Type: 
Working Paper

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