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Original Articles

The value of life extension and the marginal rate of time preference: a pilot study

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Pages 53-55 | Received 21 Feb 1996, Published online: 02 Nov 2006
 

Abstract

The aim of this paper is to introduce and test a new approach for the measurement of the marginal rate of time preference for life-years gained based on contingent valuation techniques. A simple binary willingness to pay question is administered in a general public sample of two age groups (34–5 years and 64–5 years). In this pilot study, the estimated marginal rate of time preference is 1.3%.

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