BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//hacksw/handcal//NONSGML v1.0//EN
CALSCALE:GREGORIAN
BEGIN:VEVENT
DTEND:20181129T133000
UID:69b1651abf55a
DTSTAMP:20260311T235034
LOCATION:Victoria University Lecture theatre 901\, 9th floor\, 300 Flinders Street Melbourne 3000 VIC
DESCRIPTION:Valuing Intangibles using Subjective Wellbeing Data - The Case of Violent Crime
Valuing public amenities\, pain and suffering\, and other non-market goods is a common but challenging task faced by applied economists. Existing methods include inferring shadow prices from market data\, and contingent valuation surveys in which people are asked directly about their willingness to pay. This presentation discusses a complementary approach based on the use of subjected wellbeing data\, and demonstrates its use by estimating the costs of violent crime victimisation in Australia. The total cost of violent crime for victims includes direct costs\, such as lost wages\, medical care costs and property damage\, and intangible and potentially long-term costs associated with pain\, psychological distress\, and decreases in quality of life. We estimate that the amount of monetary compensation required by victims to offset their loss of wellbeing is $88\,000 for the average victim\, with the amount being greater for females ($102\,000) than males ($79\,000).
About our speaker
David Johnston is a Professor in the Centre for Health Economics\, Monash University. His broad research interests are in health economics\, labour economics\, and microeconometrics\; but he has a particular interest in investigating the social and economic causes of mental health and wellbeing\, such as economic recession\, poverty\, people's environment\, and crime. His research also involves explaining how poor health can affect economic outcomes\, such employment and wages\, and the outcomes of future generations.
URL;VALUE=URI:http://esavic.org.au/event/34169
SUMMARY:Professional Development Seminar: David Johnston on Valuing Intangibles using Subjective Wellbeing Data - The Case of Violent Crime 
DTSTART:20181129T123000
END:VEVENT
END:VCALENDAR