Download or read book Evaluating the Validity of the Value of Statistical Life written by Elissa Cohen and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Value of a Statistical Life (VSL) captures the trade-offs people are willing to make to reduce the probability of death. While VSL is used by policymakers to assess safety regulations, questions remain about how to estimate it. First, VSL estimates from labor contexts are used to assess non-labor regulations, which may not be justifiable if people value risk mitigation differently across contexts. Second, VSL estimates vary by measurement approach (revealed (RP) vs. stated preferences (SP)), reflecting different underlying assumptions about how people appraise risk in decision-making. To address the context stability question, I conduct the first within-subjects multi-condition discrete choice experiment soliciting SP in labor, health, and transportation contexts. People's health VSL are significantly larger than their labor or transportation VSL, suggesting regulators may be underestimating people's willingness to pay for safety regulation in health care. To address the measurement approach question, I solicit employment history from the same subjects and test for differences between people's RP and SP in the labor market. Though the point estimates differ considerably, the hypothesis that people's labor market RP and SP are the same cannot be rejected. This provides some support for claims that SP studies may serve as meaningful complements or substitutes when conducting non-market valuations.
Download or read book Pricing Lives written by W. Kip Viscusi and published by Princeton University Press. This book was released on 2020-10-06 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: How society’s undervaluing of life puts all of us at risk—and the groundbreaking economic measure that can fix it Like it or not, sometimes we need to put a monetary value on people's lives. In the past, government agencies used the financial "cost of death" to monetize the mortality risks of regulatory policies, but this method vastly undervalued life. Pricing Lives tells the story of how the government came to adopt an altogether different approach--the value of a statistical life, or VSL—and persuasively shows how its more widespread use could create a safer and more equitable society for everyone. In the 1980s, W. Kip Viscusi used the method to demonstrate that the benefits of requiring businesses to label hazardous chemicals immensely outweighed the costs. VSL is the risk-reward trade-off that people make about their health when considering risky job choices. With it, Viscusi calculated how much more money workers would demand to take on hazardous jobs, boosting calculated benefits by an order of magnitude. His current estimate of the value of a statistical life is $10 million. In this book, Viscusi provides a comprehensive look at all aspects of economic and policy efforts to price lives, including controversial topics such as whether older people's lives are worth less and richer people's lives are worth more. He explains why corporations need to abandon the misguided cost-of-death approach, how the courts can profit from increased application of VSL in assessing liability and setting damages, and how other countries consistently undervalue risks to life. Pricing Lives proposes sensible economic guideposts to foster more protective policies and greater levels of safety in the United States and throughout the world.
Download or read book Fatal Tradeoffs written by W. Kip Viscusi and published by . This book was released on 1992 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Value of Statistical Life in India written by and published by . This book was released on 2018 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estimating the Value of a Statistical Life written by Orley Ashenfelter and published by . This book was released on 2004 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Value of a Statistical Life written by W. Kip Viscusi and published by . This book was released on 2003 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: A substantial literature over the past thirty years has evaluated tradeoffs between money and fatality risks. These values in turn serve as estimates of the value of a statistical life. This article reviews more than 60 studies of mortality risk premiums from ten countries and approximately 40 studies that present estimates of injury risk premiums. This critical review examines a variety of econometric issues, the role of unionization in risk premiums, and the effects of age on the value of a statistical life. Our meta-analysis indicates an income elasticity of the value of a statistical life from about 0.5 to 0.6. The paper also presents a detailed discussion of policy applications of these value of a statistical life estimates and related issues, including risk-risk analysis
Download or read book Estimating Mortality Risk Reduction and Economic Benefits from Controlling Ozone Air Pollution written by National Research Council and published by National Academies Press. This book was released on 2008-07-21 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of recent evidence on the relationship of ozone to mortality and questions about its implications for benefit analysis, the Environmental Protection Agency asked the National Research Council to establish a committee of experts to evaluate independently the contributions of recent epidemiologic studies to understanding the size of the ozone-mortality effect in the context of benefit analysis. The committee was also asked to assess methods for estimating how much a reduction in short-term exposure to ozone would reduce premature deaths, to assess methods for estimating associated increases in life expectancy, and to assess methods for estimating the monetary value of the reduced risk of premature death and increased life expectancy in the context of health-benefits analysis. Estimating Mortality Risk Reduction and Economic Benefits from Controlling Ozone Air Pollution details the committee's findings and posits several recommendations to address these issues.
Download or read book Aging in Sub Saharan Africa written by National Research Council and published by National Academies Press. This book was released on 2006-11-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: In sub-Saharan Africa, older people make up a relatively small fraction of the total population and are supported primarily by family and other kinship networks. They have traditionally been viewed as repositories of information and wisdom, and are critical pillars of the community but as the HIV/AIDS pandemic destroys family systems, the elderly increasingly have to deal with the loss of their own support while absorbing the additional responsibilities of caring for their orphaned grandchildren. Aging in Sub-Saharan Africa explores ways to promote U.S. research interests and to augment the sub-Saharan governments' capacity to address the many challenges posed by population aging. Five major themes are explored in the book such as the need for a basic definition of "older person," the need for national governments to invest more in basic research and the coordination of data collection across countries, and the need for improved dialogue between local researchers and policy makers. This book makes three major recommendations: 1) the development of a research agenda 2) enhancing research opportunity and implementation and 3) the translation of research findings.
Download or read book Introduction to Small Area Estimation Techniques written by Asian Development Bank and published by Asian Development Bank. This book was released on 2020-05-01 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide to small area estimation aims to help users compile more reliable granular or disaggregated data in cost-effective ways. It explains small area estimation techniques with examples of how the easily accessible R analytical platform can be used to implement them, particularly to estimate indicators on poverty, employment, and health outcomes. The guide is intended for staff of national statistics offices and for other development practitioners. It aims to help them to develop and implement targeted socioeconomic policies to ensure that the vulnerable segments of societies are not left behind, and to monitor progress toward the Sustainable Development Goals.
Download or read book Designing Household Survey Questionnaires for Developing Countries Lessons from 15 Years of the Living Standards Measurement Study written by Margaret E. Grosh and published by . This book was released on 2000 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive and informative document on the design, implementation, and use of household surveys in developing countries.
Download or read book Singapore and Asia written by Hui Ying Sng and published by World Scientific. This book was released on 2010 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an annual effort by the economists at the Nanyang Technological University to provide analysis, interpretations and insights of contemporary economic issues affecting Singapore and Asia. It covers two key themes: (1) Global Financial Tsunami and (2) other economic issues affecting Singapore and Asia. The Global Financial Tsunami is currently ravaging the world financial systems and the world economy. The authors brilliantly tackle pertinent issues such as fiscal and monetary management of the current crisis, impacts of the crisis on the Singapore and Asian economies, policy measures implemented by Singapore and other countries to combat the crisis, and regional efforts to mitigate the adverse impacts of the crisis. A wide range of important economic issues affecting Singapore and Asia, including inflation, exchange rate, workfare, environmental economics, population and worth of human life in Singapore are addressed competently. The chapters build on economic and analytical frameworks to help readers better understand the economic and policy issues discussed. Sample Chapter(s). Foreword (53 KB). Chapter 1: The Deepening Global Recession and the Great Depression Fear (252 KB). Contents: Economic Analysis of the Global Financial Tsunami: The Deepening Global Recession and the Great Depression Fear (C Y Lim); The Surprising Resurgence of Fiscal Policy (S M Sheffrin); The Global Financial Tsunami: Implications for East Asian Economics (K Y Tan); Global Financial Tsunami: Can the Industrial Relations Mechanism Save Singapore This Time Around? (R Chew); The On-going Global Financial Crisis and Asian Regionalism (P B Rana); Global Economic Crisis and Energy Security: Integrated Energy Market (Y-H Chang); Economic and Policy Issues: Singapore Growth Model: Its Strengths and Its Weaknesses (C Y Lim); The Role of Competition in Singapore: A Complexity Point of View (C L Lam); Inflation, Exchange Rate and the Singapore Economy: A Policy Simulation (K M Choy & T Abeysinghe); Workfare, Not Welfare: An Exploration of International Experiences and Policy Implications for Singapore (K Adireksombat); What is Human Life Worth? (E Quah et al.); Is the Environment a Game? Game Theoretical Analysis of the Kyoto Protocol (E G S Teo). Readership: Undergraduates and general public interested in economic issues affecting Singapore and Asian Economies.
Download or read book Ultimate Price written by Howard Steven Friedman and published by University of California Press. This book was released on 2021-05-05 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: How much is a human life worth? Individuals, families, companies, and governments routinely place a price on human life. The calculations that underlie these price tags are often buried in technical language, yet they influence our economy, laws, behaviors, policies, health, and safety. These price tags are often unfair, infused as they are with gender, racial, national, and cultural biases that often result in valuing the lives of the young more than the old, the rich more than the poor, whites more than blacks, Americans more than foreigners, and relatives more than strangers. This is critical since undervalued lives are left less-protected and more exposed to risk. Howard Steven Friedman explains in simple terms how economists and data scientists at corporations, regulatory agencies, and insurance companies develop and use these price tags and points a spotlight at their logical flaws and limitations. He then forcefully argues against the rampant unfairness in the system. Readers will be enlightened, shocked, and, ultimately, empowered to confront the price tags we assign to human lives and understand why such calculations matter.
Download or read book On the Definition and Estimation of the Value of a statistical Life written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Valuing Life written by Cass R. Sunstein and published by University of Chicago Press. This book was released on 2014-09-05 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Franklin's algebra -- Inside government -- Human consequences, or the real world of cost-benefit analysis -- Dignity, financial meltdown, and other nonquantifiable things -- Valuing life, 1: problems -- Valuing life, 2: solutions -- The morality of risk -- What scares us -- Epilogue: four ways to humanize the regulatory state -- Appendix A: Executive Order 13563 of January 18, 2011 -- Appendix B: the social cost of carbon -- Appendix C: estimates of benefits and costs of selected federal regulations -- Appendix D: selected examples of breakeven analysis -- Appendix E: values for mortality and morbidity.
Download or read book Statistics with Confidence written by Douglas Altman and published by John Wiley & Sons. This book was released on 2013-06-03 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly popular introduction to confidence intervals has been thoroughly updated and expanded. It includes methods for using confidence intervals, with illustrative worked examples and extensive guidelines and checklists to help the novice.
Download or read book Mathematics for Machine Learning written by Marc Peter Deisenroth and published by Cambridge University Press. This book was released on 2020-04-23 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fundamental mathematical tools needed to understand machine learning include linear algebra, analytic geometry, matrix decompositions, vector calculus, optimization, probability and statistics. These topics are traditionally taught in disparate courses, making it hard for data science or computer science students, or professionals, to efficiently learn the mathematics. This self-contained textbook bridges the gap between mathematical and machine learning texts, introducing the mathematical concepts with a minimum of prerequisites. It uses these concepts to derive four central machine learning methods: linear regression, principal component analysis, Gaussian mixture models and support vector machines. For students and others with a mathematical background, these derivations provide a starting point to machine learning texts. For those learning the mathematics for the first time, the methods help build intuition and practical experience with applying mathematical concepts. Every chapter includes worked examples and exercises to test understanding. Programming tutorials are offered on the book's web site.
Download or read book Mortality Risk Valuation in Environment Health and Transport Policies written by OECD and published by OECD Publishing. This book was released on 2012-02-02 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents a major meta-analysis of 'value of a statistical life' (VSL) estimates derived from surveys where people around the world have been asked about their willingness to pay for small reduction in mortality risks.
