Abstract
In this chapter and chapter 6 various methods for valuing life are considered. These tend to be methods which have been used, are being used or have been proposed at different times, with at least some realisation that they fall short of the ideal. In considering these methods from a conceptual and theoretical standpoint it is important not to lose sight of the need to obtain actual values, that is, put the methods into practice. Consequently we need to be wary of dismissing methods too readily which, although perhaps not ideal in theory, may at least be capable of improving upon the allocation of resources in life-saving activities and at the same time capable of yielding actual values. In this and the next chapter various studies are quoted to indicate how the approaches have been or could be applied. These are not intended to be comprehensive but are used merely as examples.
Preview
Unable to display preview. Download preview PDF.
References
Schultz, T. W., Investment in human capital, Amer. Econ. Rev., 1, March (1971)
Becker, G. S., Investment in human capital: a theoretical analysis, J. Polit. Econ., Supplement, Oct. (1962)
Smith, A., An Inquiry into the Nature and Causes of the Wealth of Nations, Strahan and Cadell, London (1786)
Becker, G. S., Human Capital, A Theoretical and Empirical Analysis with Special Reference to Education, National Bureau of Economic Research, 121 and 122, New York (1964)
Weisbrod, B. A., Economics of Public Health, University of Pennsylvania Press, Philadelphia (1961)
Petty, Sir William, Political Arithmetic or a Discourse Concerning the Extent and Value of Lands, People, Buildings, etc., Robert Clavel, London (1699)
Weisbrod, B. A., The valuation of human capital, J. Polit. Econ. 425, Oct. (1961)
Klarman, H. E., Syphilis control programs. In Measuring Benefits of Government Investments, ed. R. Dorfman, Brookings Institute, Washington, 367–414 (1965)
Dublin, L. I., and Lotka, A. J., The Money Value of a Man, Ronald Press, New York (1946)
Dawson, R. F. F., Cost of Road Accidents in Great Britain, Road Research Laboratory, Report LR 79 (1967)
Dawson, R. F. F., Current Costs of Road Accidents in Great Britain, Road Research Laboratory (1971)
Culyer, A. J., and Akehurst, R., On the economic surplus and the value of life, Bull. Econ. Res., 26, No. 2, 63–68, Nov. (1974)
Reynolds, D. J., The cost of road accidents, J. Roy. Stat. Soc., 119, 393–408 (1956)
Rice, D. P., and Cooper, B. S., The economic value of human life, Amer. J. Public Health, 57, No. 11, 1954–1966, Nov. (1967)
Hanlon, J. J., Principles of Public Health Administration, C. V. Mosby, St. Louis, Chapter 7, 5th edn. (1969)
Schelling, T. C., The life you save may be your own. In Problems in Public Expenditure Analysis, ed. S. B. Chase, Brookings Institute, Washington (1968)
Author information
Authors and Affiliations
Copyright information
© 1977 Gavin H. Mooney
About this chapter
Cite this chapter
Mooney, G.H. (1977). The Accounting or Human Capital Approach to Life Valuation. In: The Valuation of Human Life. Palgrave, London. https://doi.org/10.1007/978-1-349-03193-1_5
Download citation
DOI: https://doi.org/10.1007/978-1-349-03193-1_5
Publisher Name: Palgrave, London
Print ISBN: 978-1-349-03195-5
Online ISBN: 978-1-349-03193-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)