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 journal › Article

6 Citations (Scopus)

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
Externally publishedYes

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Labor supply
Value of a statistical life
Risk preferences
Labor supply elasticity
Individual preferences

Keywords

  • Labor supply
  • Preference calibration
  • Value of statistical life

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

VSL reconsidered : What do labor supply estimates reveal about risk preferences? / Smith, V. Kerry; Pattanayak, Subhrendu K.; Van Houtven, George L.

In: Economics Letters, Vol. 80, No. 2, 01.08.2003, p. 147-153.

Research output: Contribution to journal › Article

Smith, VK, Pattanayak, SK & Van Houtven, GL 2003, 'VSL reconsidered: What do labor supply estimates reveal about risk preferences?', Economics Letters, vol. 80, no. 2, pp. 147-153. https://doi.org/10.1016/S0165-1765(03)00081-8
Smith VK, Pattanayak SK, Van Houtven GL. VSL reconsidered: What do labor supply estimates reveal about risk preferences? Economics Letters. 2003 Aug 1;80(2):147-153. https://doi.org/10.1016/S0165-1765(03)00081-8
Smith, V. Kerry ; Pattanayak, Subhrendu K. ; Van Houtven, George L. / VSL reconsidered : What do labor supply estimates reveal about risk preferences?. In: Economics Letters. 2003 ; Vol. 80, No. 2. pp. 147-153.
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