Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias

Orley Ashenfelter and Michael Greenstone

No 858, Working Papers from Princeton University, Department of Economics, Industrial Relations Section.

Abstract: In this paper we show that omitted variables and publication bias lead to severely biased estimates of the value of a statistical life. Although our empirical results are obtained in the context of a study of choices about road safety, we suspect that the same issues plague the estimation of monetary trade-offs regarding safety in other contexts.

Keywords: value of a statistical life; publication bias; speed limits; safety risks; value of time (search for similar items in EconPapers)
JEL-codes: P48 P49 P5 P50 P51 (search for similar items in EconPapers)
Date: 2004-01
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Citations: View citations in EconPapers (88)

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Related works:
Journal Article: Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias (2004)
Working Paper: Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias (2004)
Working Paper: Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias (2004)
Working Paper: Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:pri:indrel:479

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