Value of Statistical Life
Calculations of the value of a statistical life (VSL) are used to monetize risk reductions from environmental, health, and safety policies. RFF research has contributed to efforts to improve VSL estimation in developed and developing country settings, as well as address such issues as whether VSL estimates should be adjusted by age.
Publications
Working Paper — Apr 26, 2018
What’s in a Name? A Systematic Search for Alternatives to “Value of Statistical Life”
We describe evidence from focus groups and a formal ranking exercise to gauge the preferences for and acceptance of alternative terms for the “value of statistical life”—the concept of trading off money and small reductions in mortality risks.
Working Paper — Sep 11, 2014
How Should the World Bank Estimate Air Pollution Damages?
Working Paper — May 21, 2014