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Robust Estimates of Value of a Statistical Life for Developing Economies

Author

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  • Bowland, Brad J.
  • Beghin, John C.

Abstract

Environmental economists use the value-of-statistical-life (VSL) approach to value mortality changes resulting from environmental improvement. Because of scarce data, VSL estimates are unavailable for most developing countries. Using robust regression techniques, we 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 of these economies. We apply our estimated VSL to assess the willingness to pay for reduction in mortality linked to air pollution in Santiago, Chile. We find willingness-to-pay estimates in the range of 1992 purchasing power parity (PPP) $519,000-675,000 per life.

Suggested Citation

  • Bowland, Brad J. & Beghin, John C., 2001. "Robust Estimates of Value of a Statistical Life for Developing Economies," Staff General Research Papers Archive 5196, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:5196
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    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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