Is there a meaningful definition of the value of a statistical life?

Article Abstract:

Research is presented concerning the placement of a monetary value on a statistical life. The use of empirical estimates for life expectancy where consumption is not constant throughout the life cycle is discussed.

Evaluation, Medical economics, Statistics, Statistics (Data)

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On the value of changes in life expectancy

Article Abstract:

The value of changes on death risks are important in the study of the value-of-life. A simple model is used to study the principal effects of age-dependent discount factors. The study indicates that it is crucial to determine the difference between measures directed at different age groups. Numerical simulations are done to prove that it is important to distinguish between different measures because of the varying effects over the life cycle. Health economists need to further investigate the magnitude of the marginal time preference for different age groups.

Age, Age (Biology)

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Time spent on waiting lists for medical care: an insurance approach

Article Abstract:

An expected utility model was developed in an attempt to evaluate the intricacies associated with health care waiting lists. It was established that sudden changes in the length of waiting time tend to create enigmatic shifts in utility streams. Such changes are expected to generate unpredictable variations in discounting effects, thereby increasing or decreasing the expected utility. These results imply that reducing the waiting time of patients does not always guarantee optimal results.

Health Care, Health Care and Social Assistance, HEALTH SERVICES, Hospitals, Health services administration, Hospital waiting lists

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