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The life satisfaction approach to valuing public goods : the case of terrorism
JournalArticle (Originalarbeit in einer wissenschaftlichen Zeitschrift)
ID 60852
Author(s) Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois
Author(s) at UniBasel Stutzer, Alois
Year 2009
Title The life satisfaction approach to valuing public goods : the case of terrorism
Journal Public choice
Volume 138
Number 3-4
Pages / Article-Number 317-345
Keywords LSA, Non-market valuation, Cost-benefit analysis, Subjective well-being, Terrorism
Abstract Terrorism has large social costs that are difficult to quantify for the well-known problems of eliciting people's preferences for public goods. We use the LSA to assess these costs in utility and monetary terms. Based on combined cross-section time-series data, we estimate the costs of terrorism for France and the British Isles. We find large negative effects of terrorism on life satisfaction that translate into considerable compensating surpluses for a hypothetical reduction in terrorism, in particular for the serious conflict in Northern Ireland. The effects of terrorism are robust and differ across groups in accordance with prior expectations.
Publisher Kluwer Academic Publ.
ISSN/ISBN 0048-5829
Full Text on edoc Available
Digital Object Identifier DOI 10.1007/s11127-008-9361-3
ISI-Number WOS:000264436300004
Document type (ISI) Article

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