The value of a statistical life: A meta-analysis with a mixed effects regression model

Franois Bellavance, Georges Dionne () and Martin Lebeau

Journal of Health Economics, 2009, vol. 28, issue 2, 444-464

Abstract: The value of a statistical life (VSL) is a very controversial topic, but one which is essential to the optimization of governmental decisions. We see a great variability in the values obtained from different studies. The source of this variability needs to be understood, in order to offer public decision-makers better guidance in choosing a value and to set clearer guidelines for future research on the topic. This article presents a meta-analysis based on 39 observations obtained from 37 studies (from nine different countries) which all use a hedonic wage method to calculate the VSL. Our meta-analysis is innovative in that it is the first to use the mixed effects regression model [Raudenbush, S.W., 1994. Random effects models. In: Cooper, H., Hedges, L.V. (Eds.), The Handbook of Research Synthesis. Russel Sage Foundation, New York] to analyze studies on the value of a statistical life. We conclude that the variability found in the values studied stems in large part from differences in methodologies.

Keywords: Value; of; a; statistical; life; Meta-analysis; Mixed; effects; regression; model; Hedonic; wage; method; Risk (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (73)

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Related works:
Working Paper: The value of a statistical life: A meta-analysis with a mixed effects regression model (2007)
Working Paper: The Value of a Statistical Life: a Meta-Analysis with a Mixed Effects Regression Model (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhecon:v:28:y:2009:i:2:p:444-464

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