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Policy Relevant Heterogeneity in the Value of Statistical Life: New Evidence from Panel Data Quantile Regressions
(Journal of Risk and Uncertainty, 2010)
We examine differences in the value of statistical life (VSL) across potential wage levels in panel data using quantile regressions with intercept heterogeneity. Latent heterogeneity is econometrically important and affects ...
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 ...
The Heterogeneity of the Value of Statistical Life: Introduction and Overview
(Journal of Risk and Uncertainty, 2010)
The refinement in worker fatality risk data used in hedonic wage studies and evidence from new stated preference studies have facilitated the exploration of the heterogeneity of the value of statistical life (VSL). Although ...
Policy Challenges of the Heterogeneity of the Value of Statistical Life
(Foundations and Trends in Microeconomics, 2010)
Economic research has developed estimates of the heterogeneity of the value of statistical life (VSL) on dimensions such as individual age, income, immigrant status, and the nature of the risk exposure. This paper examines ...