Events: detail

Death, Happiness and the Calculation of Hedonic Damages

Hosted by:
Westminster Business School
Speaker:
Andrew Oswald, Warwick University
Starts:
November 13, 2007 at 05:30 pm
Ends:
November 13, 2007 at 07:00 pm
Location:
Westminster Business School, Room MR2, 35 Marylebone Road, London, NW1 5LS United Kingdom
Maps:

Description

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.

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Free:
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