The Value of Remaining Lifetime Is Close to Estimated Values of Life

Published in: Journal of Health Economics, v. 20, no. 1, 2001, p. 141-143

Posted on RAND.org on January 01, 2001

by Emmett B. Keeler

Read More

Access further information on this document at www.sciencedirect.com

This article was published outside of RAND. The full text of the article can be found at the link above.

Workers under 50 on average will spend 10-20% of their future hours working. So, assuming they value leisure time at the wage rate, the value of their lives is 5-10 times their future lifetime earnings. This value is close to values of life estimated by compensating wage differentials or willingness to pay.

This report is part of the RAND Corporation external publication series. Many RAND studies are published in peer-reviewed scholarly journals, as chapters in commercial books, or as documents published by other organizations.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.