VSL reconsidered: What do labor supply estimates reveal about risk preferences?

V. Kerry Smith; Subhrendu K. Pattanayak; George L. Van Houtven

doi:10.1016/S0165-1765(03)00081-8

VSL reconsidered: What do labor supply estimates reveal about risk preferences?

V. Kerry Smith, Subhrendu K. Pattanayak, George L. Van Houtven

WPC: Economics

Research output: Contribution to journal › Article › peer-review

6 Scopus citations

Abstract

We propose and illustrate a theoretically consistent framework for linking estimates of the value of a statistical life (VSL) to individual preferences. Our example suggests a method for using estimates of the labor supply elasticity to impute a VSL estimate.

Original language	English (US)
Pages (from-to)	147-153
Number of pages	7
Journal	Economics Letters
Volume	80
Issue number	2
DOIs	https://doi.org/10.1016/S0165-1765(03)00081-8
State	Published - Aug 1 2003

Keywords

Labor supply
Preference calibration
Value of statistical life

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/S0165-1765(03)00081-8

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title = "VSL reconsidered: What do labor supply estimates reveal about risk preferences?",

abstract = "We propose and illustrate a theoretically consistent framework for linking estimates of the value of a statistical life (VSL) to individual preferences. Our example suggests a method for using estimates of the labor supply elasticity to impute a VSL estimate.",

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