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Do We Really Value Identified Lives More Highly Than Statistical Lives?

Louise Russell ()

Departmental Working Papers from Rutgers University, Department of Economics

Abstract: Value of Statistical Life (VSL) studies suggest that people’s willingness to pay for statistical lives is consistent with their willingness to pay for identified lives. The idea that the valuations are different may be no more than an artifact of the economic method for valuing statistical lives, the human capital approach, that was dominant at the time the distinction was proposed.

Keywords: Value of Statistical Life; Identified Lives (search for similar items in EconPapers)
JEL-codes: D6 I1 H4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hea and nep-rmg
Date: 2014-09-30
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Published in Medical Decision Making, 34(5), July 2014, 556-559. I paid the required fee to have the right to distribute the paper as I choose.

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