Scandinavian Working Papers in Economics
Working Papers in Economics,
University of Gothenburg, Department of Economics
No 96: Are Some Lives More Valuable?
Olof Johansson-Stenman and Peter Martinsson ()
Additional contact information
Olof Johansson-Stenman: Department of Economics, School of Economics and Commercial Law, Göteborg University, Postal: Box 640, SE 40530 GÖTEBORG
Peter Martinsson: Department of Economics, School of Economics and Commercial Law, Göteborg University, Postal: Box 640, SE 40530 GÖTEBORG
Abstract: A theoretical model of the ethical preferences of individuals is tested by conducting a choice experiment on safety-enhancing road investments. The relative value of a saved life is found to decrease with age, such that the present value of a saved year of life is almost independent of age at a pure rate of time preference of a few percent, and a saved car driver is valued 17-31% lower than a pedestrian of the same age. Moreover, individuals’ ethical preferences seem to be fairly homogenous.
Keywords: Ethics; social preferences; individual social welfare function; relative value of life; random ethical model
19 pages, March 28, 2003
Note: Published in Journal of Health Economics, 2208, Vol. 27, pp. 739-752.
- Published as
- Olof Johansson-Stenman and Peter Martinsson, (2008), 'Are Some Lives More Valuable?', Journal of Health Economics, vol 27, no 3, pages 739-752
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