heterogeneity of the value of statistical life: Introduction and overview
The refinement in worker fatality risk data used in hedonic wage studies and evidence from new stated preference studies have facilitated the exploration of the heterogeneity of the value of statistical life (VSL). Although the median VSL estimate for workers is $7-$8 million, the VSL varies conside...
Gespeichert in:
| Veröffentlicht in: | Journal of risk and uncertainty 2010-02, Vol.40 (1), p.1-13 |
|---|---|
| 1. Verfasser: | |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 13 |
|---|---|
| container_issue | 1 |
| container_start_page | 1 |
| container_title | Journal of risk and uncertainty |
| container_volume | 40 |
| creator | Viscusi, W. Kip |
| description | The refinement in worker fatality risk data used in hedonic wage studies and evidence from new stated preference studies have facilitated the exploration of the heterogeneity of the value of statistical life (VSL). Although the median VSL estimate for workers is $7-$8 million, the VSL varies considerably within the worker population. New estimates of the income elasticity of VSL are 1.0 or above, which are consistent with theoretical models linking VSL to the coefficient of relative risk aversion. The specific relationship between VSL and risk aversion is, however, more complex than previously understood. Age differences in VSL are substantial, with young children being accorded especially high VSL amounts. The public's willingness to pay to reduce risks is reduced if those being protected are perceived as being blameworthy due to their responsibility for contributing to the risk. |
| doi_str_mv | 10.1007/s11166-009-9083-z |
| format | Article |
| fullrecord | <record><control><sourceid>jstor_proqu</sourceid><recordid>TN_cdi_proquest_miscellaneous_745608124</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><jstor_id>41761405</jstor_id><sourcerecordid>41761405</sourcerecordid><originalsourceid>FETCH-LOGICAL-c531t-3e2f1345d45a08a78df599cceffef31417929591732c4ac40b7b96a58c67e30b3</originalsourceid><addsrcrecordid>eNqNkV9rVDEQxYMouFY_gA_ixZc-XZ3c_PdNitqFgg9tn0M2O9lmub2pSe5K--mb5YpCH0QYCMP8zgw5h5C3FD5SAPWpUEql7AFMb0Cz_uEZWVGhWA9cyedkBdqIXkguX5JXpeyhgVrrFVnfYMWcdjhhrPddCl29we7gxhmPTamuxlKjd2M3xoCfu_VUc9rOvsY0dW7adumA-RDx12vyIrix4Jvf7wm5_vb16uy8v_jxfX325aL3gtHaMxwCZVxsuXCgndLbIIzxHkPAwCinygxGGKrY4LnzHDZqY6QT2kuFDDbshJwue-9y-jljqfY2Fo_j6CZMc7GKCwmaDvw_SHbkOGvkhyfkPs15at-wAzDBtaGmQXSBfE6lZAz2Lsdbl-8tBXsMwS4h2OatPYZgH5pmWDSlsdMO89_F_xK9W0T7UlP-c6VZIykH0ebvl3lwybpdjsVeXw5AGTTzeCv2CJ6jnGc</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>203548919</pqid></control><display><type>article</type><title>heterogeneity of the value of statistical life: Introduction and overview</title><source>SpringerNature Journals</source><source>EBSCOhost Business Source Complete</source><source>JSTOR Archive Collection A-Z Listing</source><creator>Viscusi, W. Kip</creator><creatorcontrib>Viscusi, W. Kip</creatorcontrib><description>The refinement in worker fatality risk data used in hedonic wage studies and evidence from new stated preference studies have facilitated the exploration of the heterogeneity of the value of statistical life (VSL). Although the median VSL estimate for workers is $7-$8 million, the VSL varies considerably within the worker population. New estimates of the income elasticity of VSL are 1.0 or above, which are consistent with theoretical models linking VSL to the coefficient of relative risk aversion. The specific relationship between VSL and risk aversion is, however, more complex than previously understood. Age differences in VSL are substantial, with young children being accorded especially high VSL amounts. The public's willingness to pay to reduce risks is reduced if those being protected are perceived as being blameworthy due to their responsibility for contributing to the risk.</description><identifier>ISSN: 0895-5646</identifier><identifier>EISSN: 1573-0476</identifier><identifier>DOI: 10.1007/s11166-009-9083-z</identifier><language>eng</language><publisher>Boston: Boston : Springer US</publisher><subject>Adjustment ; Age ; Age differences ; Children ; Death ; Disinfection & disinfectants ; Economic theory ; Economic Theory/Quantitative Economics/Mathematical Methods ; Economic uncertainty ; Economic value ; Economics ; Economics and Finance ; Elasticity ; Environmental Economics ; Environmental protection ; Estimates ; Estimation ; Fatalities ; Financial risk ; Health risks ; Heterogeneity ; Income ; Income elasticity ; Income estimates ; Labor markets ; Law schools ; Legislation ; Microeconomics ; Mortality ; Operations Research/Decision Theory ; Population ; Responsibility ; Risk aversion ; Risk management ; Risk reduction ; Statistics ; Studies ; Uncertainty ; United States environmental policy ; Willingness to pay ; Work accidents</subject><ispartof>Journal of risk and uncertainty, 2010-02, Vol.40 (1), p.1-13</ispartof><rights>Springer Science+Business Media, LLC 2009</rights><rights>Springer Science+Business Media, LLC 2010</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c531t-3e2f1345d45a08a78df599cceffef31417929591732c4ac40b7b96a58c67e30b3</citedby><cites>FETCH-LOGICAL-c531t-3e2f1345d45a08a78df599cceffef31417929591732c4ac40b7b96a58c67e30b3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/41761405$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/41761405$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,780,784,803,27924,27925,41488,42557,51319,58017,58250</link.rule.ids></links><search><creatorcontrib>Viscusi, W. Kip</creatorcontrib><title>heterogeneity of the value of statistical life: Introduction and overview</title><title>Journal of risk and uncertainty</title><addtitle>J Risk Uncertain</addtitle><description>The refinement in worker fatality risk data used in hedonic wage studies and evidence from new stated preference studies have facilitated the exploration of the heterogeneity of the value of statistical life (VSL). Although the median VSL estimate for workers is $7-$8 million, the VSL varies considerably within the worker population. New estimates of the income elasticity of VSL are 1.0 or above, which are consistent with theoretical models linking VSL to the coefficient of relative risk aversion. The specific relationship between VSL and risk aversion is, however, more complex than previously understood. Age differences in VSL are substantial, with young children being accorded especially high VSL amounts. The public's willingness to pay to reduce risks is reduced if those being protected are perceived as being blameworthy due to their responsibility for contributing to the risk.</description><subject>Adjustment</subject><subject>Age</subject><subject>Age differences</subject><subject>Children</subject><subject>Death</subject><subject>Disinfection & disinfectants</subject><subject>Economic theory</subject><subject>Economic Theory/Quantitative Economics/Mathematical Methods</subject><subject>Economic uncertainty</subject><subject>Economic value</subject><subject>Economics</subject><subject>Economics and Finance</subject><subject>Elasticity</subject><subject>Environmental Economics</subject><subject>Environmental protection</subject><subject>Estimates</subject><subject>Estimation</subject><subject>Fatalities</subject><subject>Financial risk</subject><subject>Health risks</subject><subject>Heterogeneity</subject><subject>Income</subject><subject>Income elasticity</subject><subject>Income estimates</subject><subject>Labor markets</subject><subject>Law schools</subject><subject>Legislation</subject><subject>Microeconomics</subject><subject>Mortality</subject><subject>Operations Research/Decision Theory</subject><subject>Population</subject><subject>Responsibility</subject><subject>Risk aversion</subject><subject>Risk management</subject><subject>Risk reduction</subject><subject>Statistics</subject><subject>Studies</subject><subject>Uncertainty</subject><subject>United States environmental policy</subject><subject>Willingness to pay</subject><subject>Work accidents</subject><issn>0895-5646</issn><issn>1573-0476</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2010</creationdate><recordtype>article</recordtype><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><recordid>eNqNkV9rVDEQxYMouFY_gA_ixZc-XZ3c_PdNitqFgg9tn0M2O9lmub2pSe5K--mb5YpCH0QYCMP8zgw5h5C3FD5SAPWpUEql7AFMb0Cz_uEZWVGhWA9cyedkBdqIXkguX5JXpeyhgVrrFVnfYMWcdjhhrPddCl29we7gxhmPTamuxlKjd2M3xoCfu_VUc9rOvsY0dW7adumA-RDx12vyIrix4Jvf7wm5_vb16uy8v_jxfX325aL3gtHaMxwCZVxsuXCgndLbIIzxHkPAwCinygxGGKrY4LnzHDZqY6QT2kuFDDbshJwue-9y-jljqfY2Fo_j6CZMc7GKCwmaDvw_SHbkOGvkhyfkPs15at-wAzDBtaGmQXSBfE6lZAz2Lsdbl-8tBXsMwS4h2OatPYZgH5pmWDSlsdMO89_F_xK9W0T7UlP-c6VZIykH0ebvl3lwybpdjsVeXw5AGTTzeCv2CJ6jnGc</recordid><startdate>20100201</startdate><enddate>20100201</enddate><creator>Viscusi, W. Kip</creator><general>Boston : Springer US</general><general>Spring Science + Business Media</general><general>Springer US</general><general>Springer Nature B.V</general><scope>FBQ</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>0-V</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>87Z</scope><scope>88G</scope><scope>8AM</scope><scope>8AO</scope><scope>8BJ</scope><scope>8FI</scope><scope>8FJ</scope><scope>8FK</scope><scope>8FL</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ALSLI</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>BGRYB</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRNLG</scope><scope>FYUFA</scope><scope>F~G</scope><scope>GHDGH</scope><scope>GNUQQ</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>K7.</scope><scope>L.-</scope><scope>M0C</scope><scope>M0O</scope><scope>M2M</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PSYQQ</scope><scope>Q9U</scope><scope>7U1</scope><scope>7U2</scope><scope>C1K</scope></search><sort><creationdate>20100201</creationdate><title>heterogeneity of the value of statistical life: Introduction and overview</title><author>Viscusi, W. Kip</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c531t-3e2f1345d45a08a78df599cceffef31417929591732c4ac40b7b96a58c67e30b3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2010</creationdate><topic>Adjustment</topic><topic>Age</topic><topic>Age differences</topic><topic>Children</topic><topic>Death</topic><topic>Disinfection & disinfectants</topic><topic>Economic theory</topic><topic>Economic Theory/Quantitative Economics/Mathematical Methods</topic><topic>Economic uncertainty</topic><topic>Economic value</topic><topic>Economics</topic><topic>Economics and Finance</topic><topic>Elasticity</topic><topic>Environmental Economics</topic><topic>Environmental protection</topic><topic>Estimates</topic><topic>Estimation</topic><topic>Fatalities</topic><topic>Financial risk</topic><topic>Health risks</topic><topic>Heterogeneity</topic><topic>Income</topic><topic>Income elasticity</topic><topic>Income estimates</topic><topic>Labor markets</topic><topic>Law schools</topic><topic>Legislation</topic><topic>Microeconomics</topic><topic>Mortality</topic><topic>Operations Research/Decision Theory</topic><topic>Population</topic><topic>Responsibility</topic><topic>Risk aversion</topic><topic>Risk management</topic><topic>Risk reduction</topic><topic>Statistics</topic><topic>Studies</topic><topic>Uncertainty</topic><topic>United States environmental policy</topic><topic>Willingness to pay</topic><topic>Work accidents</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Viscusi, W. Kip</creatorcontrib><collection>AGRIS</collection><collection>CrossRef</collection><collection>ProQuest Social Sciences Premium Collection</collection><collection>ProQuest Central (Corporate)</collection><collection>Access via ABI/INFORM (ProQuest)</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Global (Alumni Edition)</collection><collection>Psychology Database (Alumni)</collection><collection>Criminal Justice Database (Alumni Edition)</collection><collection>ProQuest Pharma Collection</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>Hospital Premium Collection</collection><collection>Hospital Premium Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest Central UK/Ireland</collection><collection>Social Science Premium Collection</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>Criminology Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>International Bibliography of the Social Sciences</collection><collection>Business Premium Collection (Alumni)</collection><collection>Health Research Premium Collection</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>Health Research Premium Collection (Alumni)</collection><collection>ProQuest Central Student</collection><collection>International Bibliography of the Social Sciences</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ProQuest Criminal Justice (Alumni)</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Global</collection><collection>Criminal Justice Database</collection><collection>Psychology Database</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest One Psychology</collection><collection>ProQuest Central Basic</collection><collection>Risk Abstracts</collection><collection>Safety Science and Risk</collection><collection>Environmental Sciences and Pollution Management</collection><jtitle>Journal of risk and uncertainty</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Viscusi, W. Kip</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>heterogeneity of the value of statistical life: Introduction and overview</atitle><jtitle>Journal of risk and uncertainty</jtitle><stitle>J Risk Uncertain</stitle><date>2010-02-01</date><risdate>2010</risdate><volume>40</volume><issue>1</issue><spage>1</spage><epage>13</epage><pages>1-13</pages><issn>0895-5646</issn><eissn>1573-0476</eissn><abstract>The refinement in worker fatality risk data used in hedonic wage studies and evidence from new stated preference studies have facilitated the exploration of the heterogeneity of the value of statistical life (VSL). Although the median VSL estimate for workers is $7-$8 million, the VSL varies considerably within the worker population. New estimates of the income elasticity of VSL are 1.0 or above, which are consistent with theoretical models linking VSL to the coefficient of relative risk aversion. The specific relationship between VSL and risk aversion is, however, more complex than previously understood. Age differences in VSL are substantial, with young children being accorded especially high VSL amounts. The public's willingness to pay to reduce risks is reduced if those being protected are perceived as being blameworthy due to their responsibility for contributing to the risk.</abstract><cop>Boston</cop><pub>Boston : Springer US</pub><doi>10.1007/s11166-009-9083-z</doi><tpages>13</tpages><oa>free_for_read</oa></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0895-5646 |
| ispartof | Journal of risk and uncertainty, 2010-02, Vol.40 (1), p.1-13 |
| issn | 0895-5646 1573-0476 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_745608124 |
| source | SpringerNature Journals; EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing |
| subjects | Adjustment Age Age differences Children Death Disinfection & disinfectants Economic theory Economic Theory/Quantitative Economics/Mathematical Methods Economic uncertainty Economic value Economics Economics and Finance Elasticity Environmental Economics Environmental protection Estimates Estimation Fatalities Financial risk Health risks Heterogeneity Income Income elasticity Income estimates Labor markets Law schools Legislation Microeconomics Mortality Operations Research/Decision Theory Population Responsibility Risk aversion Risk management Risk reduction Statistics Studies Uncertainty United States environmental policy Willingness to pay Work accidents |
| title | heterogeneity of the value of statistical life: Introduction and overview |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-12-26T07%3A35%3A43IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-jstor_proqu&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=heterogeneity%20of%20the%20value%20of%20statistical%20life:%20Introduction%20and%20overview&rft.jtitle=Journal%20of%20risk%20and%20uncertainty&rft.au=Viscusi,%20W.%20Kip&rft.date=2010-02-01&rft.volume=40&rft.issue=1&rft.spage=1&rft.epage=13&rft.pages=1-13&rft.issn=0895-5646&rft.eissn=1573-0476&rft_id=info:doi/10.1007/s11166-009-9083-z&rft_dat=%3Cjstor_proqu%3E41761405%3C/jstor_proqu%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=203548919&rft_id=info:pmid/&rft_jstor_id=41761405&rfr_iscdi=true |