Discount Rate for Health Benefits and the Value of Life in India

K.R. Shanmugam

Working Papers from Madras School of Economics,Chennai,India

Abstract: This study contributes to the literature by estimating discount rate for environmental health benefits and value of statistical life of workers in India. The discount rate is imputed from wage-risk trade-offs in which workers decide whether to accept a risky job with higher wages. The estimated real discount rate ranges between 2.7 and 3 percent, which is closer to the financial market rate for the study period and consistent with earlier studies from developed nations. The estimated value of life is Rs. 20 (US $ 1.107) million. The results of the study can aid policymakers, international agencies and other researchers in evaluating health projects in India and other developing countries.

Keywords: Expected length of life; value of statistical life; time preference rate (search for similar items in EconPapers)
JEL-codes: J17 J28 J31 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2011-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.mse.ac.in/wp-content/uploads/2016/09/WORKING-PAPER-60.pdf (application/pdf)

Related works:
Working Paper: Discount Rate for Health Benefits and the Value of Life in India (2011)
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:mad:wpaper:2011-060

Access Statistics for this paper

More papers in Working Papers from Madras School of Economics,Chennai,India Contact information at EDIRC.
Bibliographic data for series maintained by Geetha G ().