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dc.contributor.authorElvik, Rune
dc.coverage.spatialNorwaynb_NO
dc.date.accessioned2019-06-28T11:55:56Z
dc.date.available2019-06-28T11:55:56Z
dc.date.created2018-01-03T09:11:45Z
dc.date.issued2017-12-14
dc.identifier.citationInternational Journal of Business Continuity and Risk Management (IJBCRM). 2017, 7 (3), 192-203.nb_NO
dc.identifier.issn1758-2172
dc.identifier.urihttp://hdl.handle.net/11250/2602819
dc.description.abstractMany studies have been made to obtain a monetary valuation of reduced risk of death, usually given as the value of a statistical life (VSL), which is a reduction in risk corresponding to the prevention of one fatality. This paper asks whether valuation research provides a credible basis for cost-benefit analysis of safety measures. A cost benefit analysis is credible if its results cannot be criticised by reference to the valuation studies forming its basis. It is argued that a credible basis for cost-benefit analysis in this sense does not exist. The monetary valuations of a statistical life vary enormously. The enormous diversity in values is increasingly accepted by researchers working in the field as inevitable and consistent with individual utility maximisation, and thus not necessarily anomalous. Some recent contributions argue that the value of a statistical life ought to vary depending on, for example income. Such reformulations of the theory underlying valuation studies mean that the choice of a particular value of a statistical life within the huge range of such values is not necessarily more justified than the choice of a different value.nb_NO
dc.language.isoengnb_NO
dc.publisherInderscience Publishersnb_NO
dc.titleDoes valuation research provide a credible basis for cost-benefit analysis of safety measures?nb_NO
dc.title.alternativeDoes valuation research provide a credible basis for cost-benefit analysis of safety measures?nb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.rights.holder© 2019 Inderscience Enterprises Ltd.nb_NO
dc.description.versionsubmittedVersionnb_NO
cristin.unitcode7482,2,1,0
cristin.unitnameSikkerhet og tiltak
cristin.ispublishedtrue
cristin.fulltextpreprint
cristin.qualitycode1
dc.identifier.doi10.1504/IJBCRM.2017.088806
dc.identifier.cristin1534312
dc.source.journalInternational Journal of Business Continuity and Risk Management (IJBCRM)nb_NO
dc.source.volume7nb_NO
dc.source.issue3nb_NO
dc.source.pagenumber192-203nb_NO


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