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Le calcul de la valeur statistique d'une vie humaine
[Estimation of statistical value of life]

  • Dionne, Georges
  • Lebeau, Martin

Our society faces many risks that affect human life. Cost-benefit analysis is a very popular project-evaluation tool for reducing these social risks. The government has to set projects or regulations whose benefits will outweigh costs. It is quite easy to evaluate costs but how to evaluate the benefits linked to protecting human life? Since the 1970s, many values of life have been estimated with different methods. The wide variability of the results range from 0,5 million up to 50 million ($US, 2000). The main goal of this study is to analyze the source of this variability in results. We also want to determine a reasonable value for public decision making.

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File URL: https://mpra.ub.uni-muenchen.de/37573/2/MPRA_paper_37573.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 37573.

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Date of creation: 09 Nov 2010
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Publication status: Published in L'Actualité économique 4.86(2010): pp. 487-530
Handle: RePEc:pra:mprapa:37573
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  1. Bowland, Brad J. & Beghin, John C., 2001. "Robust Estimates of Value of a Statistical Life for Developing Economies," Staff General Research Papers 5196, Iowa State University, Department of Economics.
  2. Janusz R. Mrozek & Laura O. Taylor, 2002. "What determines the value of life? a meta-analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 21(2), pages 253-270.
  3. DACHRAOUI, Kaïs & DIONNE, Georges & EECKHOUDT, Louis & GODFROID, Philippe, . "Comparative mixed risk aversion: definition and application to self-protection and willingness to pay," CORE Discussion Papers RP 1835, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Eeckhoudt, Louis R. & Hammitt, James K., 2004. "Does risk aversion increase the value of mortality risk?," Journal of Environmental Economics and Management, Elsevier, vol. 47(1), pages 13-29, January.
  5. Antoine Bommier & Bertrand Villeneuve, 2010. "Risk Aversion and the Value of Risk to Life," CER-ETH Economics working paper series 10/133, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  6. Viscusi, W Kip & Aldy, Joseph E, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," Journal of Risk and Uncertainty, Springer, vol. 27(1), pages 5-76, August.
  7. Dionne, Georges & Li, Jingyuan, 2011. "The impact of prudence on optimal prevention revisited," Economics Letters, Elsevier, vol. 113(2), pages 147-149.
  8. L. Eeckhoudt & C. Gollier, 2005. "The impact of prudence on optimal prevention," Post-Print hal-00199781, HAL.
  9. François Bellavance & Georges Dionne & Martin Lebeau, 2006. "The Value of a Statistical Life: a Meta-Analysis with a Mixed Effects Regression Model," Cahiers de recherche 0646, CIRPEE.
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  11. Kniesner, Thomas J. & Viscusi, W. Kip & Woock, Christopher & Ziliak, James P., 2007. "Pinning Down the Value of Statistical Life," IZA Discussion Papers 3107, Institute for the Study of Labor (IZA).
  12. Paul Leigh, J., 1987. "Gender, firm size, industry, and estimates of the value-of-life," Journal of Health Economics, Elsevier, vol. 6(3), pages 255-273, September.
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  14. Dachraoui, K. & Dionne, G. & Eeckhoudt, L. & Godfroid, P., 2000. "Comparative Mixed Risk Aversion," Ecole des Hautes Etudes Commerciales de Montreal- 00-10, Ecole des Hautes Etudes Commerciales de Montreal-Chaire de gestion des risques..
  15. Friedrich Breyer & Stefan Felder, 2005. "Mortality Risk and the Value of a Statistical Life: The Dead-Anyway Effect Revis(it)ed," The Geneva Papers on Risk and Insurance Theory, Springer, vol. 30(1), pages 41-55, June.
  16. John Weicher, 1996. "The Distribution of Wealth," Books, American Enterprise Institute, number 650823, April.
  17. Blomquist, Glenn C, 1979. "Value of Life Saving: Implications of Consumption Activity," Journal of Political Economy, University of Chicago Press, vol. 87(3), pages 540-58, June.
  18. Georges Dionne & Paul Lanoie, 2004. "Public Choice about the Value of a Statistical Life for Cost-Benefit Analyses: The Case of Road Safety," Journal of Transport Economics and Policy, University of Bath, vol. 38(2), pages 247-274, May.
  19. Garen, John, 1988. "Compensating Wage Differentials and the Endogeneity of Job Riskiness," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 9-16, February.
  20. Wagstaff, Adam, 1991. "QALYs and the equity-efficiency trade-off," Journal of Health Economics, Elsevier, vol. 10(1), pages 21-41, May.
  21. Liu, Jin-Tan & Hammitt, James K. & Liu, Jin-Long, 1997. "Estimated hedonic wage function and value of life in a developing country," Economics Letters, Elsevier, vol. 57(3), pages 353-358, December.
  22. Sandy, Robert & Elliott, Robert F, 1996. "Unions and Risk: Their Impact on the Level of Compensation for Fatal Risk," Economica, London School of Economics and Political Science, vol. 63(250), pages 291-309, May.
  23. Milton C. Weinstein & Donald S. Shepard & Joseph S. Pliskin, 1980. "The Economic Value of Changing Mortality Probabilities: A Decision-Theoretic Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 94(2), pages 373-396.
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