Day, B.H.;
(1999)
A meta-analysis of wage-risk estimates of the value of a statistical life.
(CSERGE Working Papers
).
Centre for Social and Economic Research on the Global Environment (CSERGE): London, UK.
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Abstract
This paper presents the results of a meta-analysis of estimates of the value of statistical life (VOSL). Data on the sample characteristics, data sources and analytical approach used to derive some 60 separate estimates in 17 published papers are used in the analysis. Tests lead us to reject the hypothesis that this sample shows evidence of publication bias. A meta-regression of these estimates provides evidence that VOSL is increasing in income but is invariant with respect to baseline risk. Controlling for aspects of the sample, data sources and analytical approach allows us to derive a best estimate of the VOSL of around $7 million.
| Type: | Working / discussion paper |
|---|---|
| Title: | A meta-analysis of wage-risk estimates of the value of a statistical life |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | http://www.cserge.ucl.ac.uk/publications.html |
| Language: | English |
| Keywords: | Value of a statistical life, hedonic wage-risk, meta-analyis |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery.ucl.ac.uk/id/eprint/17602 |
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