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| Title: | Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias |
| Contributors: | Greenstone, Michael
Ashenfelter, Orley |
| Keywords: | value of a statistical life
publication bias
speed limits
safety risks
value of time |
| Issue Date: | 1-Jan-2004 |
| Series/Report no.: | 479 |
| Abstract: | In this paper we show that omitted variables and publication bias lead to severely biased
estimates of the value of a statistical life. Although our empirical results are obtained in
the context of a study of choices about road safety, we suspect that the same issues
plague the estimation of monetary trade-offs regarding safety in other contexts. |
| URI: | http://arks.princeton.edu/ark:/88435/dsp018336h1898 |
| Appears in Collections: | Working Papers
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