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Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias Author info | Abstract | Publisher info | Download info | Related research | Statistics Ashenfelter, Orley () (Princeton University, NBER and IZA Bonn)
Greenstone, Michael (MIT, American Bar Foundation and NBER)
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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.
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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number
1037.
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Length: 17 pages
Date of creation: Mar 2004Date of revision:
Handle: RePEc:iza:izadps:dp1037Contact details of provider: Postal: IZA, P.O. Box 7240, D-53072 Bonn, Germany Phone: +49 228 3894 223 Fax: +49 228 3894 180 Web page: http://www.iza.org
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Keywords: value of a statistical life ; publication bias ; omitted variables bias ; speed limits ; traffic safety ; Other versions of this item:
Article Paper Orley Ashenfelter & Michael Greenstone, 2004.
"Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias ,"
Working Papers
858, Princeton University, Department of Economics, Industrial Relations Section..
[Downloadable!] Orley Ashenfelter & Michael Greenstone, 2004.
"Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias ,"
NBER Working Papers
10401, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Orley Ashenfelter & Michael Greenstone, 2004.
"Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias ,"
Working Papers
3, Princeton University, Department of Economics, Industrial Relations Section..
[Downloadable!] Orley Ashenfelter & Michael Greenstone, 2004.
"Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias ,"
Working Papers
105, Princeton University, Department of Economics, Center for Economic Policy Studies..
[Downloadable!] Find related papers by JEL classification: J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health R4 - Urban, Rural, and Regional Economics - - Transportation Systems
This paper has been announced in the following NEP Reports :
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Orley Ashenfelter & Colm Harmon & Hessel Oosterbeek, 2000.
"A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias ,"
NBER Working Papers
7457, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Orley Ashenfelter & Colm Harmon & Hessel Oosterbeek, 1999.
"A Review of Estimates of the Schooling/Earnings Relationship, with Tests for Publication Bias ,"
Working Papers
804, Princeton University, Department of Economics, Industrial Relations Section..
[Downloadable!] Ashenfelter, O. & Harmon, C. & Oosterbeek, H., 1999.
"A Review of Estimates of the Schooling/ Earnings Relationship, with tests for Publication Bias ,"
Papers
99/20, College Dublin, Department of Political Economy-.
Ashenfelter, Orley & Harmon, Colm & Oosterbeek, Hessel, 1999.
"A review of estimates of the schooling/earnings relationship, with tests for publication bias ,"
Labour Economics ,
Elsevier, vol. 6(4), pages 453-470, November.
[Downloadable!] (restricted) Black, Dan A & Kniesner, Thomas J, 2003.
" On the Measurement of Job Risk in Hedonic Wage Models ,"
Journal of Risk and Uncertainty ,
Springer, vol. 27(3), pages 205-20, December.
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Richard Thaler & Sherwin Rosen, 1976.
"The Value of Saving a Life: Evidence from the Labor Market ,"
NBER Chapters ,
in: Household Production and Consumption, pages 265-302
National Bureau of Economic Research, Inc.
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Orley Ashenfelter & Michael Greenstone, 2002.
"Using Mandated Speed Limits to Measure the Value of a Statistical Life ,"
Working Papers
842, Princeton University, Department of Economics, Industrial Relations Section..
[Downloadable!]
Other versions:
Orley Ashenfelter & Michael Greenstone, 2002.
"Using Mandated Speed Limits to Measure the Value of a Statistical Life ,"
NBER Working Papers
9094, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Ashenfelter, Orley & Greenstone, Michael, 2002.
"Using Mandated Speed Limits to Measure the Value of a Statistical Life ,"
IZA Discussion Papers
571, Institute for the Study of Labor (IZA).
[Downloadable!] Orley Ashenfelter & Michael Greenstone, 2004.
"Using Mandated Speed Limits to Measure the Value of a Statistical Life ,"
Journal of Political Economy ,
University of Chicago Press, vol. 112(S1), pages S226-S267, February.
[Downloadable!] (restricted) Glenn C. Blomquist, 2004.
"Self-Protection and Averting Behavior, Values of Statistical Lives, and Benefit Cost Analysis of Environmental Policy ,"
Review of Economics of the Household ,
Springer, vol. 2(1), pages 89-110, 03.
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[Downloadable!] (restricted) Michael Greenstone & Justin Gallagher, 2008.
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[Downloadable!] (restricted) Thomas J. Kniesner & W. Kip Viscusi & Christopher Woock & James P. Ziliak, 2006.
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