The Value of a Statistical Life

Viscusi, W. K., & Aldy, J. E. (2003). The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World. Journal of Risk and Uncertainty, 27(1), 5-76.

Type

Journal article

Intellectual base

Primary research

Year

2003

DOI

10.1023/a:1025598106257

Link

https://doi.org/10.1023/A:1025598106257

Cited from

behavioral_economics, economics_finance

Cited by

2 citations across 2 artifacts.

Primes

• Cost–Benefit Analysis
  • The value-of-statistical-life (VSL) methodology
• Value Commensuration
  • … a health economist assigns a monetary value to a statistical life (often ~$9 million in US policy, as derived from the meta-analysis of labor-market wage-risk tradeoffs in Viscusi and Aldy (2003)), she is not measuring a pre-existing quantity; she is imposing a commensuration to enable comparison and decision-making.

Verification

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Registry ID ref:72e10aa42246 · see in the full table