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Value of statistical life in Russia based on microdata

Author

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  • Zubova, E.

    (Lomonosov Moscow State University, Moscow, Russia)

Abstract

Value of statistical life (VSL) is a widely used instrument for risk monetizing towards public policy planning in many developed countries. In Russia, due to the lack of data required for calculations, there are practically no credible estimates comparable in terms of methodology used, while those that are obtained using a different methodology hereupon differ significantly in magnitude. In our research, the value of statistical life in Russia is estimated using the comparable to foreign studies' methodology, based on the RLMS-HSE survey microdata, the Russian (Rosstat) data, and the U.S. (BLS CFOI) data on occupational risks for 2018. The basic idea of this approach is to determine the willingness of employees to accept compensation for occupational risk. The resulting estimates of the VSL are in the range from 366,2 to 497,6 million rubles (2018). These values are significantly higher than all available estimates for Russia obtained using a different methodology but comparable to the corresponding values calculated with a similar methodology for the United States, considering the difference in GDP per capita at PPP.

Suggested Citation

  • Zubova, E., 2022. "Value of statistical life in Russia based on microdata," Journal of the New Economic Association, New Economic Association, vol. 53(1), pages 163-179.
    • Handle: RePEc:nea:journl:y:2022:i:53:p:163-179
    DOI: 10.31737/2221-2264-2022-53-1-8
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    References listed on IDEAS

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    Cited by:

    1. 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.

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    More about this item

    Keywords

    value of statistical life; revealed preferences; microdata analysis; risk compensating differential; occupational risks;
    All these keywords.

    JEL classification:

    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • 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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