Marquez, Pablo (2006): COST BENEFIT ANALYSIS, VALUE OF A STATISTICAL LIFE AND CULTURE: CHALLENGES FOR RISK REGULATION.
Download (301Kb) | Preview
The author studies three aspects of human live valuation and its relation with cost benefit analysis and regulation. More precisely the author addresses the problem of valuation of a statistical human life and its relation with cost benefit analysis in mortality risk reduction. First, studies the debate about Valuation of a Statistical Human Life (VSL) and Cost-Benefit Analysis (CBA) in mortality risks regulation; second, deals with two challenges to CBA and VSL, these are (a) the problem of discount rates and the problem of (dis)counting of future human lives, and (b), tests if culture (represented as a set of values) has an incidence in risk preferences and therefore, in willingness to pay for life in different countries.
|Item Type:||MPRA Paper|
|Institution:||Pontificia Universidad Javeriana|
|Original Title:||COST BENEFIT ANALYSIS, VALUE OF A STATISTICAL LIFE AND CULTURE: CHALLENGES FOR RISK REGULATION|
|Keywords:||Cost Benefit Analysis; Value of a Statistical Life; Culture Consequences; Regulation; Cross-country analysis|
|Subjects:||K - Law and Economics > K3 - Other Substantive Areas of Law > K32 - Environmental, Health, and Safety Law
K - Law and Economics > K1 - Basic Areas of Law > K13 - Tort Law and Product Liability
K - Law and Economics > K2 - Regulation and Business Law > K29 - Other
K - Law and Economics > K2 - Regulation and Business Law > K23 - Regulated Industries and Administrative Law
|Depositing User:||Pablo Marquez|
|Date Deposited:||09. Apr 2007|
|Last Modified:||12. Feb 2013 02:04|
1. Alfred Hofflander. The Human Life Value: A Historical Perspective. 33 J. Risk and Insurance, 381 (1966). 2. Alfred Hofflander. The Human Life Value: A theoretical model. 33 J. Risk and Insurance. 529 (1966). 3. Amartya Sen, Internal Consistency of Choice, 61 Econometrica 495 (1993). 4. Amartya Sen, Maximization and the Act of Choice, 65 Econometrica 745 (1997). 5. Amartya Sen, Environmental Evaluation and Social Choice: Contingent Valuation and the Market Analogy. 46 Japanese Econ. Rev. 23 (1995). 6. Amartya Sen, The Discipline of Cost-Benefit Analysis. 29 J. Legal. Stud. 931 (2000). 7. Andrea MassCollel, et. al. Microeconomic Theory, Preference and Choice, 7 (2001) 8. Cass R. Sunstein. The cost-benefit state: the future of regulatory protection. Chicago, Ill.: Section of Administrative Law and Regulatory Practice, ABA, c2002. 9. Cass R. Sunstein Lives, life-years, and willingness to pay. Cambridge, Mass.: Center for Business and Government, John F. Kennedy School of Government, Harvard University, (2004). 10. Cass R. Sunstein. Incommesurability and valuation in law. Michigan Law Review. Vol. 92, No. 4 (Feb., 1994), 779-861. 11. Cass R. Sunstein. Risk and reason: safety, law, and the environment. New York: Cambridge University Press, 2002. 12. Cass R. Sunstein et. al. A Behavioral Approach to Law and Economics, Behavioral Law and Economics 13, (2002). 13. Cass R. Sunstein, Cognition and cost benefit analysis. 29 J. Legal Stud. 1059 (2000). 14. Cass R. Sunstein. Laws of fear: beyond the precautionary principle. (2005). 15. Cass R. Sunstein. Cost Benefit default principles. 99 Mich. Law Rev. 1651 (2001). 16. Charles Fried. The value of life. 82 Harv. L. Rev. 1415, 1416 (1969). 17. David Dranove. What's your life worth? Health care rationing-- who lives? who dies? who decides? (2003) 18. David O’Connor, Ancillary Benefits Estimation in Developing Countries: a Comparative Assessment; CentER, Department of Economics, Tilburg University, The Netherlands. 19. David Pearce. Valuing Statistical Lives. 18 Planejamento e Políticas Públicas. 69 (Brazil, December, 1998). 20. Department of Justice. September 11th Victim Compensation Fund of 2001. Explanation of Process for Computing Presumed Economic Loss (Revised April 2, 2002). 21. Duncan Kennedy, Cost-Benefit Analysis of Entitlement Problems: A Critique, 33 Stan. L. Rev. 387 (1981). 22. Federick Pollock and Frederic Maitland, English Law before the Time of Edward First, Vol. II, 460 (1899). 23. Francois, Patrick y Zabojnik. Culture and development: an analytical framework (2001) 24. Geert Hofstede. Cultures and organizations: Software of the mind. (1997) 25. Geert Hofstede. Cultures’ Consequences, 146 (2001). 26. Halsey Josephson. A new concept of the economics of life value and human life value: a comment. Journal of risk and insurance. Vol. 37, No. 4, (Sep. 1970), 641-643. 27. Hazel Rose Markus & Shinobu Kitayama. Culture and the Self. Implications for Cognition, Emotion, and Motivation. 98 Psychological Review, (1991). 28. Innovative Strategies Group. Environmental Protection Agency, Regulatory Impact Analysis, Ozone and Particulates (1998). 29. John Persky, Retrospectives: Cost-Benefit Analysis and the Classical Creed. 15 J. Econ. Perspectives. 199, 201 (Autumn, 2001). 30. Jones-Lee, M.W. The economic journal, Vol. 102, No. 410 (Jan, 1992) 80-90. 31. Joni Hersch. Materials for the course in Empirical Methods for Legal Analysis. 207 (Fall -2005). 32. Kenneth Arrow, et. al. Is There a Role for Benefit-Cost Analysis in Environmental, Health and Safety Regulation? 272 Science, 221, 221-23 (April, 12 1996). 33. Louis Dublin and Alfred Lotka, The Money Value of a Man. v 1930. 34. M. Erez, & P. C. Earley. Culture, self identity and work. (Oxford University Press.1993). 35. M. Freeman III, The measurement of environmental and resource values. Resources for the Future, 320 (1993). 36. M.W. Jones-Lee, Paternalistic Altruism and the Value of Statistical Life 102 The Economic Journal 80, (1992). 37. Mariana Conte Grand, et. al. Estimación del Costo Económico en Argentina de la Mortalidad Atribuible al Tabaco en Adultos. XXXVIII Jornadas de Economía Política. (2003); 38. Michael D. Bayles, The price of life, 89, Ethics, 20 (October, 1978) 39. OMB Circular A-4, (September 17, 2003). 40. OMB Circular A-94 41. Pablo Hojman, Estimación del valor de las reducciones de riesgo en accidentes vitales. Pontificia Universidad Católica de Chile. 42. Paul DiMaggio¬. Culture and Cognition. 23 Annual Review of Sociology. 263 (1997). 43. Richard Revesz. Environmental Regulation, Cost-benefit Analysis and the Discounting of Human Lives. 99 Colum. L. Rev. 941 (1999). 44. Uma Subramanian & Maureen Cropper. Public Choices Between Life Saving Programs: The Tradeoff Between Qualitative Factors and Lives Saved, 21 J Risk and Uncertainty, 117 (2000). 45. W. Kip Viscusi, Mortality Effects of Regulatory Costs and Policy Evaluation Criteria, 25, RAND J. Econ. 94 (spring, 1994). 46. W. Kip Viscusi, The Value of Life. Discussion Paper 517, Olin Center for Law and Economics. (Jun, 2005) 47. W. Kip Viscusi. Mortality effects of regulatory costs and policy evaluation criteria. The RAND journal of Economics, Vol. 25. No. 1 (Spring, 1994), 94-109. 48. W. Kip Viscusi. The value of a statistical life: a critical review of market estimates throughout the world. 27 J. Risk and Uncertainty, 5 (1, 2003). 49. W. Kip Viscusi. Wealth Effects and Earnings Premiums for Job Hazards. 60 (3) Rev. Econ. and Statistics 408, (1978). 50. William Petty, Political Arithmetik, 1 (1699),