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Adjusting the Value of a Statistical Life for Age and Cohort Effects
(The Review of Economics and Statistics, 2008)
To resolve the theoretical ambiguity in the effect of age on the value of statistical life (VSL), this article uses a novel, age-dependent fatal risk measure to estimate age-specific hedonic wage regressions. VSL exhibits ...
Estimating Discount Rates for Environmental Quality from Utility-Based Choice Experiments
(Journal of Risk and Uncertainty, 2008)
We estimate rates of time preference using a utility-based choice experiment
administered to a nationally representative sample of 2,914 respondents. For the full
sample, the rate of time preference is very high for ...
Discounting Dilemmas: Editors' Introduction
(Journal of Risk and Uncertainty, 2008)
Two developments pose dilemmas for well established discounting techniques: (1) The
extremely long time horizons associated with recently prominent environmental policy problems, such as climate change and nuclear waste ...