Publications [#238920] of Frank A. Sloan

Journal Articles

1. Perreira, KM; Sloan, FA, Living healthy and living long: Valuing the nonpecuniary loss from disability and death, Journal of Risk and Uncertainty, vol. 24 no. 1 (December, 2002), pp. 5-29 [doi]
   (last updated on 2025/05/11)

   Abstract:
   This analysis uses three valuation approaches - risk-risk tradeoff, paired risk-dollar comparison, and utility function estimation - to estimate the nonpecuniary cost associated with disability in late life. In addition, we obtain an estimate of the value of life using a paired risk-dollar comparison. The data were obtained from interviews with 548 persons using an iterative computerized questionnaire. Respondents reported a median value of life of $12 million. They were willing-to-pay .7-1.4 million to avoid disability in late life or approximately $47-$95 thousand for each year of disability over age 62. The results were robust to the valuation technique employed.