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Conference Paper June 1-2, 2007 Workshop at the University of Chicago, Preliminary Draft

Death and the calculation of hedonic damages - Preliminary draft for a June 1-2 workshop at the University of Chicago -

Authors

Publication date

2007

Abstract

This paper studies the mental distress caused by bereavement. We find that the largest emotional losses are from the death of a spouse; the second-worst in severity are the losses from the death of a child; third-worst is the death of a parent. The paper demonstrates how happiness equations might be used in tort cases to calculate hedonic damages. We examine alternative well-being variables, discuss adaptation, and suggest a procedure for correcting for the endogeneity of income.

Subjects

Human Capital, Well Being, and Finance

Links

http://www2.warwick.ac.uk/fac/soc/economics/staff/faculty/oswald/jlschicagojune2007.pdf

Notes

draft paper


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