MODELS FOR ESTIMATING DISCOUNT RATES FOR LONG-TERM HEALTH RISKS USING LABOR-MARKET DATA

被引:72
作者
MOORE, MJ [1 ]
VISCUSI, WK [1 ]
机构
[1] DUKE UNIV, DEPT ECON, DURHAM, NC 27706 USA
关键词
discount rates; labor market data; rationality; value-of-life estimates;
D O I
10.1007/BF00353348
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This article utilizes evidence from job choices involving fatality risks to estimate individual discount rates for adverse health outcomes. The study compares the results from five distinct models for estimating discount rates from labor market data. The estimated discount rates range from 1% to 14% with confidence intervals that usually include financial market rates for the same period. This result, and consistent findings of significant compensating differentials for fatality risk, provide strong support for life-cycle models of individual rationality in the choice of job risks. Discounted value-of-life estimates are also developed and compared to the crosssection estimates that are more prevalent in the literature. © 1990 Kluwer Academic Publishers.
引用
收藏
页码:381 / 401
页数:21
相关论文
共 22 条