Citation

Vasquez-Lavin F, Bratti L, Orrego S, Barrientos M. Appl. Econ. 2022; 54(34): 3972-3988.

Copyright

(Copyright © 2022, Informa - Taylor and Francis Group)

DOI

10.1080/00036846.2021.2019186

PMID

unavailable

Abstract

In this paper, we estimate the Value of Statistical Life (VSL) for Chile, Colombia, and the United States using a hedonic wage model and a pseudo-panel approach. The VSL is a major component of the cost-benefit analysis of many policies, including public health, transportation safety, and environmental regulation. Using pseudo-panels, also known as synthetic cohort data, to estimate the VSL is relevant for low- and middle-income countries because many do not have panel data but do have repeated cross-sectional information. We conclude that the pseudo-panel approach is a suitable alternative for estimating the VSL when panel data is unavailable.

Language: en

Keywords

C81; hedonic price model; J28; J31; job risk; pseudo-Panels; Value of statistical life