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Title:Estimating the Value of a Statistical Life : The Importance of Omitted Variables and Publication Bias PDF Logo
Authors:Ashenfelter, Orley C.
Greenstone, Michael
Issue Date:2004
Series/Report no.:IZA Discussion paper series 1037
Abstract:In this paper we show that omitted variables and publication bias lead to severely biased estimates of the value of a statistical life. Although our empirical results are obtained in the context of a study of choices about road safety, we suspect that the same issues plague the estimation of monetary trade-offs regarding safety in other contexts.
Subjects:value of a statistical life
publication bias
omitted variables bias
speed limits
traffic safety
JEL:R4
I18
J17
H43
C8
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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