VSL Reconsidered: What do Labor Supply Estimates Reveal about Risk Preferences?

V. Kerry Smith, Subhrendu K. Pattanyak and George L. Van Houtven

Chapter 6 in The Economics of Environmental Risk, 2022, pp 97-103 from Edward Elgar Publishing

Abstract: We propose and illustrate a theoretically consistent framework for linking estimates of the value of a statistical life (VSL) to individual preferences. Our example suggests a method for using estimates of the labor supply elasticity to impute a VSL estimate.

Keywords: Economics and Finance; Environment; Politics and Public Policy (search for similar items in EconPapers)
Date: 2022
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