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A meta-analysis of wage-risk estimates of the value of a statistical life

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. Green open access

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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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