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The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life

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  • W. Kip Viscusi

Abstract

Meta-regression estimates of the value of a statistical life (VSL) controlling for publication selection bias yield bias-corrected estimates of VSL that are higher for labor market studies using the more recent Census of Fatal Occupational Injuries (CFOI) data. These results are borne out by the findings for four meta-analysis data sets and different formulations of the variable used to capture publication bias effects. Meta-regression estimates for a large sample of VSL estimates consisting only of results of labor market studies using the CFOI fatality data indicate publication selection bias effects that are not statistically significant in either fixed effects or random effects models with clustered standard errors. The confidence intervals of the publication bias-corrected estimates of the value of a statistical life sometimes include the sample mean estimates and always include the values that are currently used by government agencies.

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  • W. Kip Viscusi, 2014. "The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life," NBER Working Papers 20116, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:20116
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    30. repec:reg:rpubli:282 is not listed on IDEAS
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    Cited by:

    1. Garret Christensen & Edward Miguel, 2018. "Transparency, Reproducibility, and the Credibility of Economics Research," Journal of Economic Literature, American Economic Association, vol. 56(3), pages 920-980, September.
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    3. Thomas J. Kniesner & W. Kip Viscusi, 2023. "Compensating Differentials for Occupational Health and Safety Risks: Implications of Recent Evidence," Research in Labor Economics, in: 50th Celebratory Volume, volume 50, pages 83-116, Emerald Group Publishing Limited.
    4. Tamma Carleton & Amir Jina & Michael Delgado & Michael Greenstone & Trevor Houser & Solomon Hsiang & Andrew Hultgren & Robert E Kopp & Kelly E McCusker & Ishan Nath & James Rising & Ashwin Rode & Hee , 2023. "Valuing the Global Mortality Consequences of Climate Change Accounting for Adaptation Costs and Benefits," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 137(4), pages 2037-2105.
    5. W. Kip Viscusi, 2015. "The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life," American Journal of Health Economics, University of Chicago Press, vol. 1(1), pages 27-52, Winter.
    6. Stanley, T. D. & Doucouliagos, Chris, 2019. "Practical Significance, Meta-Analysis and the Credibility of Economics," IZA Discussion Papers 12458, Institute of Labor Economics (IZA).
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    8. Daoping Wang & Ottar N. Bjørnstad & Tianyang Lei & Yida Sun & Jingwen Huo & Qi Hao & Zhao Zeng & Shupeng Zhu & Stéphane Hallegatte & Ruiyun Li & Dabo Guan & Nils C. Stenseth, 2023. "Supply chains create global benefits from improved vaccine accessibility," Nature Communications, Nature, vol. 14(1), pages 1-15, December.
    9. Hammitt, James K. & Tuncel, Tuba, 2023. "Monetary values of increasing life expectancy: sensitivity to shifts of the survival curve," TSE Working Papers 23-1416, Toulouse School of Economics (TSE).
    10. Lisa A. Robinson & James K. Hammitt, 2016. "Valuing Reductions in Fatal Illness Risks: Implications of Recent Research," Health Economics, John Wiley & Sons, Ltd., vol. 25(8), pages 1039-1052, August.
    11. James K. Hammitt & Tuba Tunçel, 2023. "Monetary values of increasing life expectancy: Sensitivity to shifts of the survival curve," Journal of Risk and Uncertainty, Springer, vol. 67(3), pages 239-269, December.
    12. Chris Doucouliagos, 2016. "Meta-regression analysis: Producing credible estimates from diverse evidence," IZA World of Labor, Institute of Labor Economics (IZA), pages 320-320, November.
    13. Algunaibet, Ibrahim M. & Pozo, Carlos & Galán-Martín, Ángel & Guillén-Gosálbez, Gonzalo, 2019. "Quantifying the cost of leaving the Paris Agreement via the integration of life cycle assessment, energy systems modeling and monetization," Applied Energy, Elsevier, vol. 242(C), pages 588-601.
    14. 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.
    15. Nadia J. Sweis, 2022. "Revisiting the value of a statistical life: an international approach during COVID-19," Risk Management, Palgrave Macmillan, vol. 24(3), pages 259-272, September.
    16. Robert J. Johnston & Kevin J. Boyle & Maria L. Loureiro & Ståle Navrud & John Rolfe, 2021. "Guidance to Enhance the Validity and Credibility of Environmental Benefit Transfers," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 79(3), pages 575-624, July.
    17. David A. Anderson, 2020. "Natural Gas Transmission Pipelines: Risks and Remedies for Host Communities," Energies, MDPI, vol. 13(8), pages 1-10, April.
    18. Tamma Carleton & Amir Jina & Michael Delgado & Michael Greenstone & Trevor Houser & Solomon Hsiang & Andrew Hultgren & Robert E Kopp & Kelly E McCusker & Ishan Nath & James Rising & Ashwin Rode & Hee , 2023. "Valuing the Global Mortality Consequences of Climate Change Accounting for Adaptation Costs and Benefits," Journal of Economic Geography, Oxford University Press, vol. 137(4), pages 2037-2105.
    19. W. Kip Viscusi & Clayton Masterman, 2017. "Anchoring biases in international estimates of the value of a statistical life," Journal of Risk and Uncertainty, Springer, vol. 54(2), pages 103-128, April.
    20. W. Kip Viscusi, 2018. "Pricing Lives: International Guideposts for Safety," The Economic Record, The Economic Society of Australia, vol. 94(S1), pages 1-10, June.

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    More about this item

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • 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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