TY  - JOUR
AU  - Ashenfelter,Orley
TI  - Measuring the Value of a Statistical Life: Problems and Prospects
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 11916
PY  - 2006
Y2  - January 2006
UR  - http://www.nber.org/papers/w11916
L1  - http://www.nber.org/papers/w11916.pdf
N1  - Author contact info:
Orley C. Ashenfelter
Industrial Relations Section
Firestone Library
Princeton University
Princeton, NJ  08544
Tel: 609/258-4040
Fax: 609/258-2907
E-Mail: c6789@princeton.edu
AB  - Tradeoffs between monetary wealth and fatal safety risks are summarized in the value of a statistical life (VSL), a measure that is widely used for the evaluation of public policies in medicine, the environment, and transportation safety. This paper demonstrates the widespread use of this concept and summarizes the major issues, both theoretical and empirical, that must be confronted in order to provide a credible estimate of a VSL. The paper concludes with an application of these issues to a particular study of speed limits and highway safety.
ER  -