Arbeitspapier

Discount Rates in Risk v. Money and Money v. Money Tradeoffs

We use data from a survey of residents of five Italian cities conducted in late Spring 2004 to estimate the discount rates implicit in (a) money v. future risk reductions and (b) money v. money tradeoffs. We find that the mean personal discount rate is 2% in (a) and 8.7% in (b). The latter is lower than the discount rates estimated in comparable situations in many recent studies, greater than market interest rates in Italy at the time, and exhibits modest variation with age and gender. The discount rate implicit in money v. risk tradeoffs is in line with estimates from studies in the US and Europe, and does not depend on observable individual characteristics.

Sprache
Englisch

Erschienen in
Series: Nota di Lavoro ; No. 8.2006

Klassifikation
Wirtschaft
Value of Life; Forgone Income
Health: Government Policy; Regulation; Public Health
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Thema
Value of a statistical life
Latent risk reductions
Individual discount rates
Stated preference questions
Menschen
Bewertung
Abzinsung
Risiko
Italien
Wert des Lebens

Ereignis
Geistige Schöpfung
(wer)
Alberini, Anna
Chiabai, Aline
Ereignis
Veröffentlichung
(wer)
Fondazione Eni Enrico Mattei (FEEM)
(wo)
Milano
(wann)
2006

Handle
Letzte Aktualisierung
20.09.2024, 08:22 MESZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Alberini, Anna
  • Chiabai, Aline
  • Fondazione Eni Enrico Mattei (FEEM)

Entstanden

  • 2006

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