Living healthy and living long: Valuing the nonpecuniary loss from disability and death

Journal Article (Review;Journal)

This analysis uses three valuation approaches - risk-risk tradeoff, paired risk-dollar comparison, and utility function estimation - to estimate the nonpecuniary cost associated with disability in late life. In addition, we obtain an estimate of the value of life using a paired risk-dollar comparison. The data were obtained from interviews with 548 persons using an iterative computerized questionnaire. Respondents reported a median value of life of $12 million. They were willing-to-pay .7-1.4 million to avoid disability in late life or approximately $47-$95 thousand for each year of disability over age 62. The results were robust to the valuation technique employed.

Full Text

Duke Authors

Cited Authors

  • Perreira, KM; Sloan, FA

Published Date

  • December 1, 2002

Published In

Volume / Issue

  • 24 / 1

Start / End Page

  • 5 - 29

International Standard Serial Number (ISSN)

  • 0895-5646

Digital Object Identifier (DOI)

  • 10.1023/A:1013234309490

Citation Source

  • Scopus