EconPapers    
Economics at your fingertips  
 

Death, Happiness, and the Calculation of Compensatory Damages

Andrew Oswald and Nattavudh Powdthavee

No 269776, Economic Research Papers from University of Warwick - Department of Economics

Abstract: This paper studies the mental distress caused by bereavement. The largest emotional losses are from the death of a spouse; the second-worst in severity are the losses from the death of a child; the third-worst is the death of a parent. The paper explores how happiness regression equations might be used in tort cases to calculate compensatory damages for emotional harm and pain-and-suffering. We examine alternative well-being variables, discuss adaptation, consider the possibility that bereavement affects someone’s marginal utility of income, and suggest a procedure for correcting for the endogeneity of income. Although the paper’s contribution is methodological, and further research is needed, some illustrative compensation amounts are discussed.

Keywords: Health Economics and Policy; Labor and Human Capital (search for similar items in EconPapers)
Pages: 44
Date: 2007-10-31
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
https://ageconsearch.umn.edu/record/269776/files/twerp_827.pdf (application/pdf)
https://ageconsearch.umn.edu/record/269776/files/twerp_827.pdf?subformat=pdfa (application/pdf)

Related works:
Journal Article: Death, Happiness, and the Calculation of Compensatory Damages (2008) Downloads
Working Paper: Death, Happiness, and the Calculation of Compensatory Damages (2007) Downloads
Working Paper: Death, Happiness, and the Calculation of Compensatory Damages (2007) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:uwarer:269776

DOI: 10.22004/ag.econ.269776

Access Statistics for this paper

More papers in Economic Research Papers from University of Warwick - Department of Economics
Bibliographic data for series maintained by AgEcon Search ().

 
Page updated 2024-05-20
Handle: RePEc:ags:uwarer:269776