Robust Estimates of Value of a Statistical Life for Developing Economies: An Application to Pollution and Mortality in Santiago
The value-of-statistical-life (VSL) approach is used by environmental economists to value mortality changes resulting from environmental improvement, such as decreases in air pollution. Due to the scarcity of data, VSL estimates are not available for developing countries. Using robust regression techniques, the authors conduct a meta-analysis of VSL studies in industrialized countries to derive a VSL prediction function for developing economies, accounting for differences in risk, income, human capital levels, and other demographic characteristics.
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- O'Ryan, Raul E., 1996. "Cost-Effective Policies to Improve Urban Air Quality in Santiago, Chile," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 302-313, November.