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Do We Really Value Identified Lives More Highly Than Statistical Lives?

Listed author(s):
  • Louise B Russell

    ()

    (Department of Economics and Institute for Health)

Value of Statistical Life (VSL) studies suggest that people’s willingness to pay for statistical lives is consistent with their willingness to pay for identified lives. The idea that the valuations are different may be no more than an artifact of the economic method for valuing statistical lives, the human capital approach, that was dominant at the time the distinction was proposed.

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File URL: http://www.sas.rutgers.edu/virtual/snde/wp/2014-13.pdf
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Paper provided by Rutgers University, Department of Economics in its series Departmental Working Papers with number 201413.

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Length: 20 pages
Date of creation: 30 Sep 2014
Publication status: Published in Medical Decision Making, 34(5), July 2014, 556-559. I paid the required fee to have the right to distribute the paper as I choose.
Handle: RePEc:rut:rutres:201413
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Web page: http://economics.rutgers.edu/

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  1. Horowitz, John K. & McConnell, Kenneth E., 2002. "A Review of WTA/WTP Studies," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 426-447, November.
  2. Glenn C. Blomquist, 2004. "Self-Protection and Averting Behavior, Values of Statistical Lives, and Benefit Cost Analysis of Environmental Policy," Review of Economics of the Household, Springer, vol. 2(1), pages 89-110, 03.
  3. Trudy Ann Cameron, 2010. "Euthanizing the Value of a Statistical Life," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 4(2), pages 161-178, Summer.
  4. Jones-Lee, M W & Hammerton, M & Philips, P R, 1985. "The Value of Safety: Results of a National Sample Survey," Economic Journal, Royal Economic Society, vol. 95(377), pages 49-72, March.
  5. Thomas J. Kniesner & W. Kip Viscusi & Christopher Woock & James P. Ziliak, 2012. "The Value of a Statistical Life: Evidence from Panel Data," The Review of Economics and Statistics, MIT Press, vol. 94(1), pages 74-87, February.
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