Review paper

The option value of life

Volume: 37, Issue: 1, Pages: 118 - 138
Published: May 28, 2020
Abstract
This paper argues that under conditions of uncertainty, there is frequently a positive option value to staying alive when compared to the alternative of dying right away. This value can make it prudentially rational for you to stay alive even if it appears highly unlikely that you have a bright future ahead of you. Drawing on the real options approach to investment analysis, the paper explores the conditions under which there is a positive...
Paper Details
Title
The option value of life
Published Date
May 28, 2020
Volume
37
Issue
1
Pages
118 - 138
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