Assessing the Use of Pseudo-panels to Estimate the Value of Statistical Life in Developing Countries

Felipe Vásquez Lavín, Luna Bratti, Sergio Orrego and Manuel Barrientos

No 20-20, EfD Discussion Paper from Environment for Development, University of Gothenburg

Abstract: In this paper, we estimate the Value of Statistical Life (VSL) for Chile, Colombia, and the United States using a hedonic wage model and a pseudo-panel approach. The VSL is a major component of costbenefit analysis of many policies including public health, transportation safety, and environmental regulation. Using pseudo-panels, also known as synthetic cohort data, to estimate the VSL is relevant for low- and middle-income countries, because many do not have panel data but do have repeated crosssectional information. We conclude that the pseudo-panel approach is a suitable alternative to estimate the VSL when panel data is not available.

Keywords: value of statistical life; hedonic price model; pseudo-panels (search for similar items in EconPapers)
JEL-codes: Q51 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2020-06-23
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:gunefd:2020_020

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