COST BENEFIT ANALYSIS, VALUE OF A STATISTICAL LIFE AND CULTURE: CHALLENGES FOR RISK REGULATION

Marquez, Pablo (2006): COST BENEFIT ANALYSIS, VALUE OF A STATISTICAL LIFE AND CULTURE: CHALLENGES FOR RISK REGULATION.

Abstract

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
• Language: English
• 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 ; Forensic Economics; 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

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