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Value of statistical life in Russia: Estimates based on panel microdata for 2010–2020

Author

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  • Zubova, Ekaterina

    (Lomonosov Moscow State University, Moscow, Russian Federation; Yale University, USA;)

Abstract

The novelty of this research is that there are provided first estimates of the value of statistical life in Russia, considering wage differential for occupational risks, based on the analysis of panel data (2010–2020). The resulting estimates of VSL in Russia adjusted for two-way effects are in the range of 231.7 and 288.3 mln rubles that are considerably lower than ones obtained with pooled regression (397 mln) and between estimator (420.6 mln) and comparable with corresponding values for the USA (11.4–11.6 mln US dollars).

Suggested Citation

  • Zubova, Ekaterina, 2022. "Value of statistical life in Russia: Estimates based on panel microdata for 2010–2020," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 65, pages 45-64.
    • Handle: RePEc:ris:apltrx:0438
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    References listed on IDEAS

    as
    1. Joseph E. Aldy & W. Kip Viscusi, 2007. "Age Differences in the Value of Statistical Life: Revealed Preference Evidence," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 1(2), pages 241-260, Summer.
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    6. Viscusi, W. Kip & Masterman, Clayton J., 2017. "Income Elasticities and Global Values of a Statistical Life," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 8(2), pages 226-250, July.
    7. W. Kip Viscusi, 2004. "The Value of Life: Estimates with Risks by Occupation and Industry," Economic Inquiry, Western Economic Association International, vol. 42(1), pages 29-48, January.
    8. W. Kip Viscusi, 2020. "Pricing the global health risks of the COVID-19 pandemic," Journal of Risk and Uncertainty, Springer, vol. 61(2), pages 101-128, October.
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    More about this item

    Keywords

    value of statistical life; panel data; risk compensating differential; occupational risks; cost-benefit analysis;
    All these keywords.

    JEL classification:

    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law

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