BEGIN:VCALENDAR
PRODID:-//SiteBuilder 2//University of Warwick ITS Web Team//EN
VERSION:2.0
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-TIMEZONE:Europe/London
X-LIC-LOCATION:Europe/London
BEGIN:VTIMEZONE
TZID:Europe/London
LAST-MODIFIED:20201010T011803Z
TZURL:http://tzurl.org/zoneinfo/Europe/London
X-LIC-LOCATION:Europe/London
X-PROLEPTIC-TZNAME:LMT
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+000115
TZOFFSETTO:+0000
DTSTART:18471201T000000
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19160521T020000
RDATE:19170408T020000
RDATE:19180324T020000
RDATE:19190330T020000
RDATE:19200328T020000
RDATE:19210403T020000
RDATE:19220326T020000
RDATE:19230422T020000
RDATE:19240413T020000
RDATE:19270410T020000
RDATE:19300413T020000
RDATE:19330409T020000
RDATE:19340422T020000
RDATE:19350414T020000
RDATE:19380410T020000
RDATE:19390416T020000
RDATE:19400225T020000
RDATE:19460414T020000
RDATE:19470316T020000
RDATE:19480314T020000
RDATE:19490403T020000
RDATE:19530419T020000
RDATE:19540411T020000
RDATE:19570414T020000
RDATE:19600410T020000
RDATE:19680218T020000
END:DAYLIGHT
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19161001T030000
RDATE:19170917T030000
RDATE:19180930T030000
RDATE:19190929T030000
RDATE:19201025T030000
RDATE:19211003T030000
RDATE:19221008T030000
RDATE:19391119T030000
RDATE:19471102T030000
RDATE:19481031T030000
RDATE:19491030T030000
RDATE:19711031T030000
END:STANDARD
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19230916T030000
RRULE:FREQ=YEARLY;UNTIL=19240921T020000Z;BYMONTH=9;BYMONTHDAY=16,17,18,19
 ,20,21,22;BYDAY=SU
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19250419T020000
RRULE:FREQ=YEARLY;UNTIL=19260418T020000Z;BYMONTH=4;BYMONTHDAY=16,17,18,19
 ,20,21,22;BYDAY=SU
END:DAYLIGHT
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19251004T030000
RRULE:FREQ=YEARLY;UNTIL=19381002T020000Z;BYMONTH=10;BYMONTHDAY=2,3,4,5,6,
 7,8;BYDAY=SU
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19280422T020000
RRULE:FREQ=YEARLY;UNTIL=19290421T020000Z;BYMONTH=4;BYMONTHDAY=16,17,18,19
 ,20,21,22;BYDAY=SU
END:DAYLIGHT
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19310419T020000
RRULE:FREQ=YEARLY;UNTIL=19320417T020000Z;BYMONTH=4;BYMONTHDAY=16,17,18,19
 ,20,21,22;BYDAY=SU
END:DAYLIGHT
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19360419T020000
RRULE:FREQ=YEARLY;UNTIL=19370418T020000Z;BYMONTH=4;BYMONTHDAY=16,17,18,19
 ,20,21,22;BYDAY=SU
END:DAYLIGHT
BEGIN:DAYLIGHT
TZNAME:BDST
TZOFFSETFROM:+0100
TZOFFSETTO:+0200
DTSTART:19410504T020000
RDATE:19450402T020000
RDATE:19470413T020000
END:DAYLIGHT
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0200
TZOFFSETTO:+0100
DTSTART:19410810T030000
RRULE:FREQ=YEARLY;UNTIL=19430815T010000Z;BYMONTH=8;BYMONTHDAY=9,10,11,12,
 13,14,15;BYDAY=SU
END:DAYLIGHT
BEGIN:DAYLIGHT
TZNAME:BDST
TZOFFSETFROM:+0100
TZOFFSETTO:+0200
DTSTART:19420405T020000
RRULE:FREQ=YEARLY;UNTIL=19440402T010000Z;BYMONTH=4;BYMONTHDAY=2,3,4,5,6,7
 ,8;BYDAY=SU
END:DAYLIGHT
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0200
TZOFFSETTO:+0100
DTSTART:19440917T030000
RDATE:19450715T030000
RDATE:19470810T030000
END:DAYLIGHT
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19451007T030000
RRULE:FREQ=YEARLY;UNTIL=19461006T020000Z;BYMONTH=10;BYMONTHDAY=2,3,4,5,6,
 7,8;BYDAY=SU
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19500416T020000
RRULE:FREQ=YEARLY;UNTIL=19520420T020000Z;BYMONTH=4;BYMONTHDAY=14,15,16,17
 ,18,19,20;BYDAY=SU
END:DAYLIGHT
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19501022T030000
RRULE:FREQ=YEARLY;UNTIL=19521026T020000Z;BYMONTH=10;BYMONTHDAY=21,22,23,2
 4,25,26,27;BYDAY=SU
END:STANDARD
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19531004T030000
RRULE:FREQ=YEARLY;UNTIL=19601002T020000Z;BYMONTH=10;BYMONTHDAY=2,3,4,5,6,
 7,8;BYDAY=SU
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19550417T020000
RRULE:FREQ=YEARLY;UNTIL=19560422T020000Z;BYMONTH=4;BYMONTHDAY=16,17,18,19
 ,20,21,22;BYDAY=SU
END:DAYLIGHT
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19580420T020000
RRULE:FREQ=YEARLY;UNTIL=19590419T020000Z;BYMONTH=4;BYMONTHDAY=16,17,18,19
 ,20,21,22;BYDAY=SU
END:DAYLIGHT
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19610326T020000
RRULE:FREQ=YEARLY;UNTIL=19630331T020000Z;BYMONTH=3;BYDAY=-1SU
END:DAYLIGHT
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19611029T030000
RRULE:FREQ=YEARLY;UNTIL=19671029T020000Z;BYMONTH=10;BYMONTHDAY=23,24,25,2
 6,27,28,29;BYDAY=SU
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19640322T020000
RRULE:FREQ=YEARLY;UNTIL=19670319T020000Z;BYMONTH=3;BYMONTHDAY=19,20,21,22
 ,23,24,25;BYDAY=SU
END:DAYLIGHT
BEGIN:STANDARD
TZNAME:BST
TZOFFSETFROM:+0100
TZOFFSETTO:+0100
DTSTART:19681026T230000
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19720319T020000
RRULE:FREQ=YEARLY;UNTIL=19800316T020000Z;BYMONTH=3;BYMONTHDAY=16,17,18,19
 ,20,21,22;BYDAY=SU
END:DAYLIGHT
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19721029T030000
RRULE:FREQ=YEARLY;UNTIL=19801026T020000Z;BYMONTH=10;BYMONTHDAY=23,24,25,2
 6,27,28,29;BYDAY=SU
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19810329T010000
RRULE:FREQ=YEARLY;BYMONTH=3;BYDAY=-1SU
END:DAYLIGHT
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19811025T020000
RRULE:FREQ=YEARLY;UNTIL=19891029T010000Z;BYMONTH=10;BYMONTHDAY=23,24,25,2
 6,27,28,29;BYDAY=SU
END:STANDARD
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19901028T020000
RRULE:FREQ=YEARLY;UNTIL=19951022T010000Z;BYMONTH=10;BYDAY=4SU
END:STANDARD
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0000
TZOFFSETTO:+0000
DTSTART:19960101T000000
END:STANDARD
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19961027T020000
RRULE:FREQ=YEARLY;BYMONTH=10;BYDAY=-1SU
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTAMP:20260518T094835Z
DTSTART;VALUE=DATE-TIME:20251104T141500
DTEND;VALUE=DATE-TIME:20251104T153000
SUMMARY:Applied & Development Economics Seminar - Erzo Luttmer (Dartmouth
 )
TZID:Europe/London
UID:20251104-8ac672c69874bbdc0198754571e201cd@warwick.ac.uk
CREATED:20251020T151238Z
DESCRIPTION:Title: Living Large or Long? Preference Estimates from Comple
 ted-Life Stories (joint with Joshua Schwartzstein\, Tomáš Jagelka\, Amit
 abh Chandra) The paper will not be ready for sharing prior to the semina
 r\, an abstract is as follows: ———Extended Abstract ——— The value of a y
 ear of life plays a crucial role in informing policy decisions related t
 o healthcare\, the environment\, innovation\, and safety regulations. Gi
 ven the significance of a life year’s value for policymaking\, estimates
  should accurately reflect people’s preferences. Currently\, estimates a
 re derived from individuals’ observed choices involving small risks of d
 eath and monetary compensation\, such as their willingness to take riski
 er jobs for higher pay. However\, these estimates have significant limit
 ations: individuals may not correctly perceive small risks\, may deviate
  from rationality for choices involving small probabilities\, and those 
 making such choices\, like soldiers or firefighters\, represent a non-re
 presentative sample. Furthermore\, unobserved job characteristics relate
 d to risk can bias these estimates. Our paper introduces an alternative 
 method for estimating the value of a life year\, attempting to overcome 
 these limitations. We present a broadly representative sample of U.S. re
 spondents with choices between pairs of “completed-life stories\,” askin
 g which life they would prefer for themselves. By randomizing lifetime e
 arnings and ages of death in each story\, we estimate how the probabilit
 y of choosing a particular story increases with higher lifetime earnings
  versus a later age of death. We find that a 7% increase in lifetime ear
 nings increases the choice probability as much as a 1% increase in longe
 vity\, implying a Life Year Value (LYV) elasticity of 7. Consequently\, 
 a typical individual with median earnings of $80\,000 annually values an
  additional life year at age 80 as equivalent to receiving an additional
  $5\,700 per year for all working years\, totaling approximately $225\,0
 00 over their lifetime. We validate our estimates by demonstrating high 
 test-retest reliability across survey waves and establishing their robus
 tness through a series of specification checks and additional randomizat
 ions. Furthermore\, we estimate markedly higher LYV elasticities for ind
 ividuals whose subjective attitudes indicate that they place an above-av
 erage value on an additional life year. A key methodological advantage o
 f our approach is that respondents engage in a natural task—assessing wh
 ether a life was desirable—which avoids triggering cultural or social no
 rms about paying for life extension. Moreover\, our method does not enta
 il decisions under uncertainty\, thereby avoiding many known behavioral 
 biases. An important substantive advantage of our approach is that it al
 lows us to estimate how the Life Year Value varies with respondent chara
 cteristics\, age of death\, and lifetime earnings in a broadly represent
 ative population. We find that the LYV increases with lifetime earnings 
 and decreases with later life years. Even when holding constant lifetime
  earnings and age of death\, there is notable heterogeneity in the LYV a
 cross individuals. This suggests that tailoring policies to individual p
 references can result in welfare improvements. ——————
LOCATION:S2.79
CATEGORIES:Applied & Development Economics Seminar
LAST-MODIFIED:20251020T151238Z
ORGANIZER;CN=Gill Gudger:
END:VEVENT
END:VCALENDAR