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

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

Research output: Contribution to journalArticle

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 languageEnglish (US)
Pages (from-to)147-153
Number of pages7
JournalEconomics Letters
Volume80
Issue number2
DOIs
StatePublished - Aug 1 2003

Keywords

  • Labor supply
  • Preference calibration
  • Value of statistical life

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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