Euthanizing the Value of a Statistical Life

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Euthanizing the Value of a Statistical Life

Many policies and regulations are intended to protect human life and health. To analyze the benefits and costs of these measures, we must address society’s willingness to pay (WTP) for a variety of health-risk reductions. By convention, economists report estimates of this WTP in terms of a unit called a “statistical life.”1 While some economists may not be particularly familiar with this termin...

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“the effect of risk aversion on the demand for life insurance: the case of iranian life insurance market”

abstract: about 60% of total premium of insurance industry is pertained?to life policies in the world; while the life insurance total premium in iran is less than 6% of total premium in insurance industry in 2008 (sigma, no 3/2009). among the reasons that discourage the life insurance industry is the problem of adverse selection. adverse selection theory describes a situation where the inf...

15 صفحه اول

The Value of a Statistical Life∗

2 Theoretical Insights 4 2.1 The VSL model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2.1.1 The standard model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2.1.2 The dead-anyway effect and the wealth effect . . . . . . . . . . . . . . . . . . . . . 5 2.1.3 Risk aversion and background risks . . . . . . . . . . . . . . . . . ....

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Statistical Value of Life and Health Capital in Iran

The purpose of this study is to introduce and assess various measures of statistical value of life and introduce a way to measure health capital for 19 age cohorts throughout 1996-2015. To do so, we applied a dynamic planning approach and used the data on Iranian household budget survey. The main results show that until 2009, adding a new member to the population of newborns was more socially v...

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ژورنال

عنوان ژورنال: Review of Environmental Economics and Policy

سال: 2010

ISSN: 1750-6816,1750-6824

DOI: 10.1093/reep/req010