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estimates in this subset of the literature. The bias is greatest for the largest estimates, possibly because the high …. Estimates from lower-income countries exhibit less bias but remain unreliable for benefit-cost analysis. Unlike labor market …
Persistent link: https://www.econbiz.de/10012841765
estimates, particularly for studies based on international data. This pattern of publication bias effects is consistent with … statistically significant publication selection effects. Adjusting a baseline bias-adjusted U.S. VSL estimate of $9.6 million using …
Persistent link: https://www.econbiz.de/10012965813
The considerable literature on the value of a statistical life (VSL) documents the wage-mortality risk tradeoffs for the working population. Regulatory analyses often must monetize risks to populations at the tails of the age distribution. Because of the longer life expectancy for children,...
Persistent link: https://www.econbiz.de/10014496254
, as one might expect, given the subjective nature of the best-set selection process. While “best estimate selection bias … of the VSL are similar to those in the all-set sample. The bias-corrected estimate of the VSL for the all-set USA sample …
Persistent link: https://www.econbiz.de/10012962820
Meta-regression estimates of the value of a statistical life (VSL) controlling for publication selection bias often … yield bias-corrected estimates of VSL that are substantially below the mean VSL estimates. Labor market studies using the … bias-corrected estimates than do studies based on earlier fatality rate measures. These results are borne out by the …
Persistent link: https://www.econbiz.de/10014140930
Policy applications of the value of a statistical life (VSL) often make a benefits transfer assumption that the VSL from one market context is broadly applicable to other contexts as in the U.S. Dept. of Transportation’s estimate of $9.1 million based on labor market estimates of VSL. This...
Persistent link: https://www.econbiz.de/10014144274
studies. The estimates are robust, controlling for possible sample selection bias and the influence of covariates, such as the …
Persistent link: https://www.econbiz.de/10012926943
The fatality risk-money tradeoff that is the value of a statistical life (VSL) may vary with the nature of the fatality event. While all fatalities involve loss of future life expectancy, the morbidity effects and their duration may differ. This article analyzes fatality risks accompanied by...
Persistent link: https://www.econbiz.de/10013005167
The tradeoff between money and small risks of death is the value of statistical life (VSL), which has become the standard for assessing the benefits of risk and environmental regulations. Labor market estimates of the VSL average about $7 million. This valuation amount rises with age and then...
Persistent link: https://www.econbiz.de/10014217857
Notwithstanding the general acceptance of the value of statistical life (VSL) estimates for policy assessment purposes, several important unresolved issues remain. First, the results from revealed preference studies are systematically higher than those from stated preference studies, potentially...
Persistent link: https://www.econbiz.de/10014178856