Cover: Age, Time, and the Measurement of Mortality Benefits

Age, Time, and the Measurement of Mortality Benefits

Published 1988

by Jonathan Cave

Download

Download eBook for Free

FormatFile SizeNotes
PDF file 3.3 MB

Use Adobe Acrobat Reader version 10 or higher for the best experience.

Purchase

Purchase Print Copy

 Format Price
Add to Cart Paperback84 pages $25.00

Several analytical procedures can be used to place dollar values on the benefits of policies that reduce mortality. This report examines the sensitivity of such measures to age, time, and information effects. It derives benefits measures from a formal model of individual lifetime consumption decisions and applies them to several cases of policy interest. The author derives a number of policy recommendations from the research reported here: (1) base benefits assessments on full lifetable comparisons; (2) reexamine clinical and laboratory data in a way that permits economically meaningful risk assessment; (3) undertake ancillary studies of individual risk preference and time consistency; (4) avoid the use of human-capital or value-of-life measures whenever possible; and (5) take careful account of the timing and distribution of information when choosing policy options and measuring benefits.

This report is part of the RAND report series. The report was a product of RAND from 1948 to 1993 that represented the principal publication documenting and transmitting RAND's major research findings and final research.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND 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.