Adjusting the Value of a Statistical Life for Age and Cohort Effects

By Joseph E. Aldy, W. Kip Viscusi. Review of Economics and Statistics, 2008

375 citations recorded by the source corpus.

Subfields: Demography, Economics and Econometrics, General Health Professions

View Paper: https://www.semanticscholar.org/paper/dd5ecff3108bbc6ce200cfd43035e59dadba3051

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Demography

1. M. Cropper
2. Lisa A. Robinson
3. James K Hammitt
4. R. Mendelsohn
5. G. Duncan
6. W. Kip Viscusi

In Economics and Econometrics

1. Lisa A. Robinson
2. M. Cropper
3. James K Hammitt
4. Sheila M. Olmstead
5. Thomas J. Kniesner
6. R. Mendelsohn
7. G. Duncan
8. W. Kip Viscusi

In General Health Professions

1. Lisa A. Robinson
2. Jens Ludwig
3. M. Cropper
4. James K Hammitt
5. G. Duncan
6. Thomas J. Kniesner
7. Diane Whitmore Schanzenbach
8. W. Kip Viscusi

Citations in the corpus

• The Value of a Statistical Life: Evidence from Panel Data (2012, neutral): “Because our focus is on the average VSL across a broad sample of workers, we will consequently not explore emerging interest in the heterogeneity of VSL by age and other personal characteristics (Kniesner, Viscusi, and Ziliak 2006; Aldy and Viscusi 2008).”
• Valuing Mortality Risk Reductions: Progress and Challenges (2011, methodology): “Aldy & Viscusi (2008) examine the effect of age on VSL using CFOI risk data that vary by worker age and industry and a minimum-distance estimator that controls for cohort effects (younger workers were born later and have greater lifetime income).”
• The Economic Valuation of Environmental Amenities and Disamenities: Methods and Applications (2009, background): “There is evidence that the marginal value of risk may vary with age (43, 44), across countries (45, 46), and with the character of the risk, such as latency (47).”
• The Value of a Statistical Life (2019, background): “Whereas the earlier VSLY estimates appeared to be arbitrary and without a strong economic rationale, when it increased its VSLY estimates from levels that appeared to be arbitrary placeholders, the agency cited the estimates in Aldy and Viscusi (2008) as the justification for its higher VSLY figure.”
• The economic costs of childhood poverty in the United States (2008, background): “, Aldy and Viscusi 2006) allow it to vary over the life cycle before computing an average annual value. But these calculations are generally not based on earnings, and therefore do not overlap with the estimates of lost productivity and earnings that we calculated above.(34) Cutler and Richardson, u”