XML FeedsThe Cost of Uncertain Life Span
By CostBenefit on Jul 9, 2008 | In General, Health, Academic Study/Journal Article, Research Institute NGO NonProfit, Costs and Benefits | Send feedback »
Link: http://papers.nber.org/papers/w14093
Abstract: A considerable amount of uncertainty surrounds life expectancy at birth, the average length of life. The standard deviation in adult life spans is about 15 years in the U.S., and theory and evidence suggest it is costly. In this paper, I calibrate a standard intertemporal model to show that one less year in standard deviation is worth about half a mean life year. Differences in the standard deviation amplify measured differences in life expectancy between the U.S. and other industrialized countries, and accounting for historical gains against the standard deviation raises the total value of mortality declines during the last century by about 25 percent.
by Ryan D. Edwards
National Bureau of Economic Research (NBER) www.NBER.org
NBER Working Paper No. 14093; Issued in June 2008
http://papers.nber.org/papers/w14093
