We develop a numerical life-cycle model with choice over consump-tion and leisure, stochastic mortality and labor income processes, and calibrated to U.S. data to characterize willingness to pay (WTP) for mortality risk reduction. Our theoretical framework can explain many em-pirical findings in this literature, including an inverted-U life-cycle WTP and an order of magnitude difference in prime-aged adults WTP. By endo-genizing leisure and employing multiple income measures, we reconcile the literature's large variation in estimated income elasticities. By accounting for gender- and race-specific stochastic mortality and income processes, we explain the literature's black-white and female-male differences
Revealed preference evidence, especially based on wage-risk tradeoffs in the labor market, provides ...
Controversy over the value of statistical life (VSL) centers on whether a single value should be app...
What is the value of a statistical life (VSL)? How does one calculate such a value? Does everyone’s ...
Article published in a journal of theoretical and empirical papers that analyze risk-bearing behavio...
This study builds on an ever growing health demand and retirement literature. I extend the literatur...
article published in economics journalEconomic research has developed estimates of the heterogeneity...
Article published in a journal of theoretical and empirical papers that analyze risk-bearing behavio...
Individuals’ monetary values of decreases in mortality risk depend on the magnitude and timing of th...
In theory, heterogeneity in individual characteristics translates into variation in the marginal wil...
Methods of estimating the value of statistical life (VSL) have evolved over time, namely human capit...
Although the value of reducing mortality risks and that of reducing life year losses are closely rel...
Much of the justification for environmental rulemaking rests on estimates of the benefits to society...
Wage hedonic models are estimated with the Health and Retirement Study to measure the risk-wage trad...
To what extent can life protection account for observed diversities in age-specific life expectancie...
Large disparities between willingness to accept (WTA) and willingness to pay (WTP) based values of s...
Revealed preference evidence, especially based on wage-risk tradeoffs in the labor market, provides ...
Controversy over the value of statistical life (VSL) centers on whether a single value should be app...
What is the value of a statistical life (VSL)? How does one calculate such a value? Does everyone’s ...
Article published in a journal of theoretical and empirical papers that analyze risk-bearing behavio...
This study builds on an ever growing health demand and retirement literature. I extend the literatur...
article published in economics journalEconomic research has developed estimates of the heterogeneity...
Article published in a journal of theoretical and empirical papers that analyze risk-bearing behavio...
Individuals’ monetary values of decreases in mortality risk depend on the magnitude and timing of th...
In theory, heterogeneity in individual characteristics translates into variation in the marginal wil...
Methods of estimating the value of statistical life (VSL) have evolved over time, namely human capit...
Although the value of reducing mortality risks and that of reducing life year losses are closely rel...
Much of the justification for environmental rulemaking rests on estimates of the benefits to society...
Wage hedonic models are estimated with the Health and Retirement Study to measure the risk-wage trad...
To what extent can life protection account for observed diversities in age-specific life expectancie...
Large disparities between willingness to accept (WTA) and willingness to pay (WTP) based values of s...
Revealed preference evidence, especially based on wage-risk tradeoffs in the labor market, provides ...
Controversy over the value of statistical life (VSL) centers on whether a single value should be app...
What is the value of a statistical life (VSL)? How does one calculate such a value? Does everyone’s ...