IDEAS home Printed from https://ideas.repec.org/p/cdl/ctcres/qt82d0550k.html
   My bibliography  Save this paper

Valuing Human Life: Estimating the Present Value of Lifetime Earnings, 2000

Author

Listed:
  • Max, Wendy Ph.D.
  • Rice, Dorothy P
  • Sung, Hai-Yen
  • Michel, Martha

Abstract

Objectives. This paper describes the methodology for estimating the present value of lifetime earnings (PVLE) for the year 2000. Methods. Estimation takes into account life expectancy by gender and age group, percent of people in the labor force or keeping house, current pattern of earnings at successive ages, an imputed value for household production, and the discount rate. Results. At a discount rate of 3 percent, males and females aged 20-24 have the highest PVLE — $1,517,045 and $1,085,188 respectively. Lifetime earnings for men are higher than for women. Higher discount rates yield lower values at all ages. Conclusions. The present value of lifetime earnings yields useful estimates of the valueof life. These estimates are conservative compared with other approaches.

Suggested Citation

  • Max, Wendy Ph.D. & Rice, Dorothy P & Sung, Hai-Yen & Michel, Martha, 2004. "Valuing Human Life: Estimating the Present Value of Lifetime Earnings, 2000," University of California at San Francisco, Center for Tobacco Control Research and Education qt82d0550k, Center for Tobacco Control Research and Education, UC San Francisco.
    • Handle: RePEc:cdl:ctcres:qt82d0550k
    as

    Download full text from publisher

    File URL: https://www.escholarship.org/uc/item/82d0550k.pdf;origin=repeccitec
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Andersson, Henrik, 2013. "Consistency in preferences for road safety: An analysis of precautionary and stated behavior," Research in Transportation Economics, Elsevier, vol. 43(1), pages 41-49.
    2. Henrik Andersson & Nicolas Treich, 2011. "The Value of a Statistical Life," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 17, Edward Elgar Publishing.
    3. Paul E. Greenberg & Andree-Anne Fournier & Tammy Sisitsky & Mark Simes & Richard Berman & Sarah H. Koenigsberg & Ronald C. Kessler, 2021. "The Economic Burden of Adults with Major Depressive Disorder in the United States (2010 and 2018)," PharmacoEconomics, Springer, vol. 39(6), pages 653-665, June.
    4. Santini, Ziggi Ivan & Thygesen, Lau Caspar & Koyanagi, Ai & Stewart-Brown, Sarah & Meilstrup, Charlotte & Nielsen, Line & Olsen, Kim Rose & Birkjær, Michael & McDaid, David & Koushede, Vibeke & Ekholm, 2022. "Economics of mental wellbeing: a prospective study estimating associated productivity costs due to sickness absence from the workplace in Denmark," LSE Research Online Documents on Economics 116690, London School of Economics and Political Science, LSE Library.
    5. Durr-e-Nayab & Muhammad Nasir & Junaid Alam Memon & Omer Siddique, 2021. "The Economic Cost of Tobacco-Induced Diseases in Pakistan," PIDE Research Report 2021:2, Pakistan Institute of Development Economics.
    6. Charles Griffiths & Al McGartland & Maggie Miller, 2006. "A Note on Trasande et al., “Public Health and Economic Consequences of Methylmercury Toxicity to the Developing Brain”," NCEE Working Paper Series 200602, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Apr 2006.
    7. Delphine Hu & Stefano M Bertozzi & Emmanuela Gakidou & Steve Sweet & Sue J Goldie, 2007. "The Costs, Benefits, and Cost-Effectiveness of Interventions to Reduce Maternal Morbidity and Mortality in Mexico," PLOS ONE, Public Library of Science, vol. 2(8), pages 1-10, August.
    8. Furmanov, Kirill & Chernysheva, Irina, 2012. "Health and job search in Russia," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 26(2), pages 62-91.
    9. Susan F Rumisha & Janeth George & Veneranda M Bwana & Leonard E G Mboera, 2020. "Years of potential life lost and productivity costs due to premature mortality from six priority diseases in Tanzania, 2006-2015," PLOS ONE, Public Library of Science, vol. 15(6), pages 1-18, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cdl:ctcres:qt82d0550k. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lisa Schiff (email available below). General contact details of provider: https://escholarship.org/uc/ctcre/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.