Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/74131
Authors: 
Alberini, Anna
Chiabai, Aline
Year of Publication: 
2006
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 8.2006
Abstract: 
We use data from a survey of residents of five Italian cities conducted in late Spring 2004 to estimate the discount rates implicit in (a) money v. future risk reductions and (b) money v. money tradeoffs. We find that the mean personal discount rate is 2% in (a) and 8.7% in (b). The latter is lower than the discount rates estimated in comparable situations in many recent studies, greater than market interest rates in Italy at the time, and exhibits modest variation with age and gender. The discount rate implicit in money v. risk tradeoffs is in line with estimates from studies in the US and Europe, and does not depend on observable individual characteristics.
Subjects: 
Value of a statistical life
Latent risk reductions
Individual discount rates
Stated preference questions
JEL: 
J17
I18
D91
Document Type: 
Working Paper

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