Are some lives more valuable? An ethical preferences approach
- 作者：Olof Johansson-Stenman ; Peter Martinsson
- 关键词：Ethical preferences ; Individual social welfare function ; Relative value of life ; Choice experiments ; Random utility model
- 刊名：Journal of Health Economics
- 出版年：2008
- 期刊代码：160_01676296
- 类别：med
- 出版时间：May 2008
- 卷：27
- 期：3
- 页码：739-752
- 文件大小：234 K
摘要
We develop a theoretical model of the ethical preferences of individuals, combining individual social welfare functions and random utility theory. The model is applied by conducting a choice experiment regarding safety-enhancing road investments that target different age groups and road user types. The relative value of a saved life is found to decrease with age, such that the present value of a saved life-year is almost independent of age at a pure rate of time preference of a few percent. Moreover, a saved pedestrian is consistently valued higher than a saved car driver of the same age.