Altruism and the Value of Other People's Safety

M W Jones-Lee

Journal of Risk and Uncertainty, 1991, vol. 4, issue 2, 213-19

Abstract: This article considers the manner in which people's altruistic concern for other people's safety should be incorporated in willingness-to-pay based values of statistical life and safety. It is shown that, within a utilitarian framework, the traditional prescription that such values should take full account of people's willingness to pay for others' safety is valid if and only if altruism is exclusively safety-focused, in the sense that while i is concerned for j's safety, he is quite indifferent to other determinants of j's utility. Copyright 1991 by Kluwer Academic Publishers

Date: 1991
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