Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias

In this paper we show that omitted variables and publication bias lead to severely biased estimates of the value of a statistical life. Although our empirical results are obtained in the context of a study of choices about road safety, we suspect that the same issues plague the estimation of monetary trade-offs regarding safety in other contexts.

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Year of publication:	2004-04
Authors:	Ashenfelter, Orley ; Greenstone, Michael
Institutions:	National Bureau of Economic Research (NBER)

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Extent:	application/pdf
Series:	NBER Working Papers.
Type of publication:	Book / Working Paper
Notes:	HC LE LS published as Ashenfelter, Orley and Michael Greenstone. "Estimating The Value Of A Statistical Life: The Importance Of Omitted Variables And Publication Bias," American Economic Review, 2004, v94(2,May), 454-460. Number 10401
Classification:	J17 - Value of Life; Foregone Income ; H43 - Project Evaluation; Social Discount Rate
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005575852