𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Altruism and the value of other people's safety

✍ Scribed by M. W. Jones-Lee

Publisher
Springer
Year
1991
Tongue
English
Weight
370 KB
Volume
4
Category
Article
ISSN
0895-5646

No coin nor oath required. For personal study only.

✦ Synopsis

This article considers the manner in which people's altruistic concern for other people's safety should be incorporated in willingness-to-pay based values of statistical life and safety. It is shown that, within a utilitarian framework, the traditional prescription that such values should take full account of people's willingness to pay for others' safety is valid if and only if altruism is exclusivelysafety-focused, in the sense that while i is concerned forj's safety, he is quite indifferent to other determinants ofj's utility.

During recent years there has been a substantial growth of interest in the willingnessto-pay approach to the valuation of safety. Indeed, some public-sector and related agen-

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