Author : W. Kip Viscusi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Book Synopsis The Flawed Hedonic Damages Measure of Compensation for Wrongful Death and Personal Injury by : W. Kip Viscusi
Download or read book The Flawed Hedonic Damages Measure of Compensation for Wrongful Death and Personal Injury written by W. Kip Viscusi and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The payment of hedonic damages based on the value of statistical life will lead to excessive insurance and excessive deterrence in personal injury cases. The value of statistical life can play a constructive role in assessing negligence and liability. The recent proposal that wrongful death victims be awarded hedonic damages in addition to the standard economic damages and noneconomic damages amounts to compensate for the harm to survivors will produce rampant double counting and will transform wrongful death awards in a very inefficient and undesirable manner. Recent attempts to set compensation levels by chaining the value of statistical life with measures of happiness and disability reflect a fundamental misunderstanding of the value of statistical life literature.