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
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.