Pinning down the value of statistical life
By: by Thomas J. Kniesner ...[et al]
Series: Discussion paper -- no. 3107; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) -- no. 3107
Publisher: IZA
Published: 2007
Place of publication: Bonn, Germany
Language: eng
Format: [electronic resource] /
Subjects: Human Life cycle
Description: "Our research addresses fundamental long-standing concerns in the compensating wage differentials literature and its public policy implications: the econometric properties of estimates of the value of statistical life (VSL) and the wide range of such estimates from about $0.5 million to about $21 million. We address most of the prominent econometric issues by applying panel data, a new and more accurate fatality risk measure, and systematic selection of panel estimator in our research. Controlling for measurement error, endogeneity, individual heterogeneity, and state dependence yields both a reasonable average level and narrow range for the estimated value of a statistical life of about $5.5--$7.5 million"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Title from PDF file as viewed on 10/12/2007.

Includes bibliographical references.

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