Working Paper: NBER ID: w10401
Authors: Orley Ashenfelter; Michael Greenstone
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.
Keywords: No keywords provided
JEL Codes: J17; H43; I18; R4
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Adoption of higher speed limits (R48) | Increased travel speeds (R48) |
| Increased travel speeds (R48) | Increased fatality rates (I12) |
| Adoption of higher speed limits (R48) | Increased fatality rates (I12) |
| Increased travel speeds (R48) | Decrease in travel times (R41) |
| Adoption of higher speed limits (R48) | Increase in fatalities (J17) |