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 the empirical evidence on the heterogeneity of VSL and explores the...

We estimate the value of a statistical life (VSL), or the willingness to trade-off wealth and mortality risk, among 430,000 U.S. Army soldiers choosing whether to reenlist from 2002-2010. Using a discrete choice random utility approach and significant variation in retention bonuses and mortality...

The value of risks to life as measured by the risk-money trade-off plays a fundamental role in economic analyses of health and safety risks and serves as the principal benefit measure for government risk regulation policies. The hedonic models that have been employed to generate empirical...

Hedonic property value models are often used to place a value on localized amenities and disamenities. In practice, however, results may be affected by (i) omitted variable bias and (ii) whether homebuyers and sellers are aware of, and respond to, the assumed environmental measure. In this paper...

The Value of a Statistical Life is a key input into the calculation of the benefits of environmental policies that save lives. To date, the VSL used in environmental policy analyses has not been adjusted for age or the cause of death. Air pollution regulations, however, are linked to reductions...

Sensitivity (proportionality) of willingness to pay to (small) risk changes is often used as a criterion to test for valid measures of economic preferences. In a contingent valuation (CV) study conducted in Austria, 1,005 respondents were asked their willingness to pay (WTP) for preventing an...

Diarrhea mortality risk due to water pollution is one of serious problems that threaten human life in Asian developing countries. This study aims to provide basic data for the cost benefit analysis of countermeasures against diarrhea in Laos and Vietnam, and measures the value of statistical...

We study the monetary compensation for non-fatal accident risk in Switzerland using the number of accidents within cells defined over industry x skill-level of the job and capitalizing on the partial panel structure of our data which allows us to empirically isolate the wage component specific...