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The Preferred Valuation Methodology Again: Option Values and ‘PIP’Goods

  • Gavin H. Mooney
Chapter

Abstract

As chapter 7 has already indicated there appear to be two elements involved in reducing risk and in the values to be placed on such reductions. Let us call these two elements R i and R ii• R i is concerned solely with risk reduction per se. It is that element associated with a reduction in risk of death which is not related to fear or anxiety but solely to the loss associated with death.

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References

  1. 1.
    Schelling, T. C., The life you save may be your own. In Problems in Public Expenditure Analysis, ed. S. B. Chase, Brookings Institute, Washington, 127–162 (1968)Google Scholar
  2. 2.
    Weisbrod, B. A., Collective-consumption services of individual consumption goods, Q. Jl. Econ., August (1964)Google Scholar
  3. 3.
    Zeckhauser, R., Uncertainty andeie need for collective action. In Public Expenditures and Policy Analysis, eds. R. H. Haveman and J. Margolis, Markham Publishing Company, Chicago (1970)Google Scholar
  4. 4.
    Jones-Lee, M. W., The Value of Life, an Economic Analysis, Martin Robertson, London (1976)Google Scholar

Copyright information

© Gavin H. Mooney 1977

Authors and Affiliations

  • Gavin H. Mooney
    • 1
  1. 1.Department of Community MedicineUniversity of AberdeenScotland

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