Adjusting the value of a statistical life for age and cohort effects

被引：185

作者：

Aldy, Joseph E. ^{[1
]}

Viscusi, W. Kip ^{[1
]}

机构：

[1] Vanderbilt Univ, Nashville, TN 37203 USA

来源：

REVIEW OF ECONOMICS AND STATISTICS | 2008年 / 90卷 / 03期

关键词：

D O I：

10.1162/rest.90.3.573

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

To resolve the theoretical ambiguity in the effect of age on the value of statistical life (VSL), this article uses a novel, age-dependent fatal risk measure to estimate age-specific hedonic wage regressions. VSL exhibits an inverted-U-shaped relationship with age. In the year 2000 cross section, workers' VSL rises from $3.7 million (ages 18-24) to $9.7 million (35-44), and declines to $3.4 million (55-62). Controlling for birth-year cohort effects in a minimum distance estimator yields a peak VSL of $7.8 million at age 46, and flattens the age-VSL relationship. The value of statistical life-year also follows an inverted-U shape with age.

引用

页码：573 / 581

页数：9

共 29 条

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[2]

ALDY JE, 2007, NUMERICAL MODEL VALU

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