Title: Evaluation of Life and Limb: A Theoretical Approach
Abstract: None of the existing methods of evaluating loss or saving life, or assessing an increase or reduction in accidents resulting from investment projects, is satisfactory for a number of reasons. This is so chiefly because they are all inconsistent with the Pareto base of existing allocation theory and benefit-cost analysis. Strict application of the Pareto principle to changes in accidents and fatalities involves a calculation of the compensating variation associated with the changes in risk bearing regarded as external effects. Several of these external effects are discussed at length.
Publication Year: 1971
Publication Date: 1971-07-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 499
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