Is There a Meaningful Definition of the Value of a Statistical Life?

Overview

Journal J Health Econ

Specialty Health Services

Date 2001 Jan 10

PMID 11148868

Citations 2

Authors

P O Johansson

Affiliations

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Abstract

A definition of the value of a statistical life is derived. This definition has a meaningful interpretation in terms of the monetary value of expected present value utility if consumption is age-independent. In all other cases, empirical estimates of the value of a statistical life are biased estimators of the monetary counterpart to expected present value utility.

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