What determines the value of life? a meta-analysis
Janusz R. Mrozek and
Laura Taylor ()
Additional contact information
Janusz R. Mrozek: Charles River Associates, Postal: Charles River Associates
Journal of Policy Analysis and Management, 2002, vol. 21, issue 2, 253-270
A large literature has developed in which labor market contracts are used to estimate the value of a statistical life (VSL). Reported estimates of the VSL vary substantially, from less than $100,000 to more than $25 million. This research uses meta-analysis to quantitatively assess the VSL literature. Results from existing studies are pooled to identify the systematic relationships between VSL estimates and each study's particular features, such as the sample composition and research methods. This meta-analysis suggests that a VSL range of approximately $1.5 million to $2.5 million (in 1998 dollars) is what can be reasonably inferred from past labor-market studies when “best practice” assumptions are invoked. This range is considerably below many previous qualitative reviews of this literature. © 2002 by the Association for Public Policy Analysis and Management.
References: Add references at CitEc
Citations: View citations in EconPapers (139) Track citations by RSS feed
Downloads: (external link)
http://hdl.handle.net/10.1002/pam.10026 Link to full text; subscription required (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:wly:jpamgt:v:21:y:2002:i:2:p:253-270
Access Statistics for this article
More articles in Journal of Policy Analysis and Management from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().