life (VSL) and the degree of complementarity between consumption and labor supplied when health status serves as a … individual requires to accept increased occupational fatality risk. We derive a relationship between the value of a statistical … potential source of variation in this relationship. Our empirical analysis finds that variations in an individual's health …

Health care extends life. Over the past half century, Americans have spent a rising share of total economic resources … on health and have enjoyed substantially longer lives as a result. Debate on health policy often focuses on limiting the … growth of health spending. We investigate an issue central to this debate: can we understand the growth of health spending as …

-dependent fatal and nonfatal risk variables. Workers' value of statistical life exhibits an inverted U-shaped relationship over …

wage-hedonic VSL estimates and describe two estimators that correct for it. Using data from the CPS, we recover VSL …

risk of fatal hazards is fraught with problems. The theoretical basis for such estimates are flawed in a number of … not look like the perfectly competitive model on which the theory depends for its conclusions. Further, there are many …

adult life span is about 15 years in the U.S., and theory and evidence suggest it is costly. I calibrate a utility … component due to infant mortality, has exhibited even more convergence than life expectancy. Sustained reductions in the … total economic value of gains against mortality in the U.S. prior to 1950 but only about 5 percent since …

reduce mortality risk. Their choices generate an equilibrium survival function that can be differentiated to recover their … marginal willingness to pay for mortality risk reduction. Our IV estimator uses survey data on Americans over age 66, linked to … their federal administrative records. The mean VSL is approximately $1 million at age 67 and increasing in health, income …

Individuals' risk preferences are estimated and employed in a variety of settings, notably including choices in …' coefficients of relative risk aversion (CRRA's) in excess of one, and often significantly higher. However, it can be shown that …) anomaly involving individuals' risk-taking behavior in different market settings …

processes, and calibrated to U.S. data to characterize willingness to pay (WTP) for mortality risk reduction. Our theoretical …We develop a numerical life-cycle model with choice over consumption and leisure, stochastic mortality and labor income … literature's large variation in estimated income elasticities. By accounting for gender- and race-specific stochastic mortality …

the latent safety-related skill interpretation. Risk measures with less measurement error raise the value of statistical …