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Does the Value per Statistical Life vary with age or baseline health? Evidence from a compensating wage study in France

Author

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  • Daniel Herrera Araujo

    (LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Lise Rochaix

    (Hospinnomics (PSE – École d’Économie de Paris, Assistance Publique Hôpitaux de Paris – AP-HP) - PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

This paper provides an empirical assessment of the effects of age and baseline health on the Value per Statistical Life (VSL) by reporting the results of a compensating wage differential for occupational fatality risk in France. We exploit Constances, a novel population-based cohort that combines respondents' full medical history, elicited using face-to-face interviews with physicians, with respondents' work history, extracted from administrative records. Focusing on blue-collar males, aged between 20 and 59 years of age, we find an average VSL estimate of at least 6.5 million euros. Our results suggest that VSL decreases with age and with better baseline health.

Suggested Citation

  • Daniel Herrera Araujo & Lise Rochaix, 2020. "Does the Value per Statistical Life vary with age or baseline health? Evidence from a compensating wage study in France," Post-Print hal-03353422, HAL.
    • Handle: RePEc:hal:journl:hal-03353422
    DOI: 10.1016/j.jeem.2020.102338
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    Cited by:

    1. Aditi Kharb & Sandesh Bhandari & Maria Moitinho de Almeida & Rafael Castro Delgado & Pedro Arcos González & Sandy Tubeuf, 2022. "Valuing Human Impact of Natural Disasters: A Review of Methods," IJERPH, MDPI, vol. 19(18), pages 1-11, September.
    2. Canning, David, 2023. "Conducting Cost Benefit Analysis in Expected Utility Units Using Revealed Social Preferences," Working Papers 0722, University of Heidelberg, Department of Economics.

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