Decision Rules and the Social Welfare Function for Life-saving Policy Areas

Abstract

In an attempt to draw various strands together this chapter examines the decision rules which emerge from the preceding chapters. At the same time this provides an opportunity to summarise some of the main features of the preferred approach to life valuation and set the issues in a policy-orientated framework. In addition the social welfare functions which emerge from the value of risk approach are set out together with the assumptions surrounding them. While this still leaves us some way short of a ‘solution’ to the questions of demand for lifesaving measures and of the appropriate level of investment in mortality-reducing policies, it provides the necessary conceptual background from which it is to be hoped empirical research can eventually draw solutions.