The value of life extension and the marginal rate of time preference: a pilot study
- 1 January 1997
- journal article
- research article
- Published by Taylor & Francis in Applied Economics Letters
- Vol. 4 (1) , 53-55
- https://doi.org/10.1080/758521833
Abstract
The aim of this paper is to introduce and test a new approach for the measurement of the marginal rate of time preference for life-years gained based on contingent valuation techniques. A simple binary willingness to pay question is administered in a general public sample of two age groups (34–5 years and 64–5 years). In this pilot study, the estimated marginal rate of time preference is 1.3%.Keywords
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