Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/158582
Authors: 
Spengler, Hannes
Year of Publication: 
2004
Citation: 
[Journal:] Zeitschrift für ArbeitsmarktForschung - Journal for Labour Market Research [ISSN:] 2510-5027 [Volume:] 37 [Year:] 2004 [Issue:] 3 [Pages:] 269-305
Abstract (Translated): 
This paper is the first empirical study to determine the value of a statistical life for the Federal Republic of Germany. The analyses are conducted on the basis of a data set composed of the IAB employment sample and information concerning industrial accidents from the employers' liability insurance associations. The panel estimates yield an average value of a statistical life for workers in employment subject to social security contributions of E 1.65 million. This value is clearly below the cross-sectional studies conducted for comparison purposes (mean Euro 4.5 million) and suggests that (also) the results obtained from studies conducted in the USA to date (median US$ 7 million), which are based almost solely on cross-sectional data, are upwardly biased due to the lack of control for unobserved heterogeneity. The results obtained for the value of a statistical life can be used in cost-benefit analyses of projects aimed at risk reduction e.g. in health policy, environmental policy, transport policy and crime policy.
Subjects: 
Versicherungsmathematik
Lebenseinkommen
Arbeitsunfälle
Unfallversicherung
Todesursache
Sterblichkeit
Risikoabschätzung
Document Type: 
Article

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