caa a22 4500 445332387 CHVBK 20180317142741.0 cr unu---uuuuu 170323e20110801xx s 000 0 eng 10.1007/s10198-010-0240-8 doi (NATIONALLICENCE)springer-10.1007/s10198-010-0240-8 Leiter Andrea Department of Economics and Statistics, University of Innsbruck, Universitätsstraße 15, 6020, Innsbruck, Austria aut Age effects in monetary valuation of reduced mortality risks: the relevance of age-specific hazard rates [Elektronische Daten] [Andrea Leiter] This paper highlights the relevance of age-specific hazard rates in explaining the age variation in "value of statistical life” (VSL) figures. The analysis—which refers to a stated preference framework—contributes to the ongoing discussion of whether benefits resulting from reduced mortality risk should be valued differently depending on the age of the beneficiaries. By focussing on a life-threatening environmental phenomenon I show that the consideration of the individual's age-specific hazard rate is important. If a particular risk affects all individuals regardless of their age so that their hazard rate is age-independent, VSL is rather constant for people at different age; if hazard rate varies with age, VSL estimates are sensitive to age. The results provide an explanation for the mixed outcomes in empirical studies and illustrate in which cases an adjustment to age may or may not be justified. Efficient provision of live-saving measures requires that such differences to be taken into account. Springer-Verlag, 2010 Health risk prevention nationallicence Value of statistical life nationallicence Age effects nationallicence Hazard rate nationallicence Contingent valuation nationallicence The European Journal of Health Economics Springer-Verlag 12/4(2011-08-01), 331-344 1618-7598 12:4<331 2011 12 10198 https://doi.org/10.1007/s10198-010-0240-8 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10198-010-0240-8 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Leiter Andrea Department of Economics and Statistics, University of Innsbruck, Universitätsstraße 15, 6020, Innsbruck, Austria aut NATIONALLICENCE 773 0- The European Journal of Health Economics Springer-Verlag 12/4(2011-08-01), 331-344 1618-7598 12:4<331 2011 12 10198 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer