| Literature DB >> 18164772 |
Olof Johansson-Stenman1, Peter Martinsson.
Abstract
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.Mesh:
Year: 2007 PMID: 18164772 DOI: 10.1016/j.jhealeco.2007.10.001
Source DB: PubMed Journal: J Health Econ ISSN: 0167-6296 Impact factor: 3.883