Although wage rates are lower when employers have monopsony power, we find that the value of a statistical life (VSL) is not reduced when labor markets are more concentrated. Because the estimated VSL is the product of the wage and the wage-risk tradeoff rate, a greater tradeoff rate in highly...

Background: By 30 June 2021, the 54 African sovereign nations had reported 5,465,790 laboratory-confirmed COVID-19 cases (including 142,171 deaths). This study aimed to estimate the monetary value of human life losses, indirect and direct costs, and the potential cost reductions due to...

This is the first study to compare the hedonic wage and discrete choice models in the context of real job market choices. The hedonic wage method is the most widely adopted approach in estimating the value of marginal changes in mortality risks (or value of a statistical life, VSL)....

The current method used by the US Government to calculate benefits and costs does not accurately measure the monetary value of some regulations. The problem is that the method fails to recognize the possibility that individual valuations, reflecting judgments in a relatively isolated,...