Date of Award:
12-2008
Document Type:
Thesis
Degree Name:
Master of Science (MS)
Department:
Economics and Finance
Department name when degree awarded
Economics
Committee Chair(s)
Paul M. Jakus
Committee
Paul M. Jakus
Committee
E. Bruce Godfrey
Committee
John E. Keith
Abstract
The value of statistical life is an estimate of the monetary benefits of preventing an anonymous death. Society's willingness to pay to eliminate private health risks determines agencies' value-of-statistical-life estimates. Most estimates ignore society's willingness to pay to eliminate others' health risks. There are two possible reasons. First, altruism does not exist: Peter is not willing to pay to save Paul's life. The second possible reason is a bit more complicated. Certain economists argue that increasing benefit estimates to account for altruism involves double-counting.
The purpose of this thesis is to evaluate these possibilities. Accounting for altruism, it turns out, is not double-counting if altruism is paternalistic. Furthermore, I empirically demonstrate that people are willing to pay to reduce others' health risks. Thus, the two justifications for ignoring altruism are, seemingly, unfounded, which indicates that analysts should increase the value of statistical life to account for altruism.
Checksum
8c8682e5e10c9c91c379cbf7899d2f9e
Recommended Citation
Brady, Kevin Lee, "Safety-Focused Altruism: Valuing the Lives of Others" (2008). All Graduate Theses and Dissertations, Spring 1920 to Summer 2023. 223.
https://digitalcommons.usu.edu/etd/223
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