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DEEP Séminaires en Microéconomie

The DEEP organizes a workshop covering a wide array of Micro topics, including game theory, industrial organization, trade, health and labor economics, experimental, micro-econometrics, …

Presentations are 1h15, including questions from the audience. The workshop is open to external and internal speakers. 

 

 

Valuing Life as an Asset, as a Statistic, and at Gunpoint

Pascal St-Amour (HEC Lausanne)

5 décembre 2017  -  12:15-13:30, salle Extranef 109

The Human Capital (HK), and Statistical Life Values (VSL) differ sharply in their empirical pricing of a human life and lack a common theoretical background, to justify these differences. This paper makes four contributions to the theory, and measurement of the latter. First, we provide a unified framework to formally define, and relate the Hicksian willingness to pay (WTP) to avoid death risks, the HK, and the VSL. Second, we use this setting to introduce a third life value calculated at Gunpoint (GPV), i.e. the maximal WTP to avoid certain, instantaneous death. Third, we associate a flexible human capital model to the common framework to characterize the WTP and the three life valuations in closed-form. Fourth, we structurally estimate these solutions. Our results confirm that the strong curvature of the WTP explains why the VSL (8.43 M$) is much higher than either the HK (438 K$) or the GPV (452 K$) values.

Liste des prochaines séances

aujourd'hui Selling in Advance to Loss Averse Consumers
Marc Möller (University of Bern)
Host(s): Joao Montez
12:15-13:30, salle Extranef 109

click here [↓] to go to the attached pdf

Plus d'information
5 décembre 2017 Valuing Life as an Asset, as a Statistic, and at Gunpoint
Pascal St-Amour (HEC Lausanne)
12:15-13:30, salle Extranef 109

click here [↓] to go to the attached pdf

Plus d'information
20 décembre 2017 Eduardo Morales (Princeton University)
Host(s): Frédéric Robert-Nicoud
11:00-12:30, salle Extranef 109

click here [↓] to go to the attached pdf
27 février 2018 Andrea Isoni (Warwick Business School)
Host(s): Adrian Bruhin & Luis Santos Pinto
12:15-13:30, salle Extranef 109

click here [↓] to go to the attached pdf
13 mars 2018 Günther Fink (University of Basel)
Host(s): Jurgen Maurer
12:15-13:30, salle Extranef 109

click here [↓] to go to the attached pdf
27 mars 2018 Bettina Klaus (HEC Lausanne)
12:15-13:30

click here [↓] to go to the attached pdf
22 mai 2018 Gabrielle Fack (Paris School of Economics)
Host(s): Marius Brülhart
12:15-13:30, salle Extranef 109

click here [↓] to go to the attached pdf
>> Liste des séances précédentes
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