Working Paper: NBER ID: w20116
Authors: W. Kip Viscusi
Abstract: Meta-regression estimates of the value of a statistical life (VSL) controlling for publication selection bias yield bias-corrected estimates of VSL that are higher for labor market studies using the more recent Census of Fatal Occupational Injuries (CFOI) data. These results are borne out by the findings for four meta-analysis data sets and different formulations of the variable used to capture publication bias effects. Meta-regression estimates for a large sample of VSL estimates consisting only of results of labor market studies using the CFOI fatality data indicate publication selection bias effects that are not statistically significant in either fixed effects or random effects models with clustered standard errors. The confidence intervals of the publication bias-corrected estimates of the value of a statistical life sometimes include the sample mean estimates and always include the values that are currently used by government agencies.
Keywords: Value of Statistical Life; Publication Selection Bias; Meta-regression; Census of Fatal Occupational Injuries
JEL Codes: I18; J17; J31; K32
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| publication selection bias (C46) | VSL estimates (J17) |
| correcting for publication selection bias (C34) | bias-corrected VSL estimates (J17) |
| publication selection bias effects (C46) | VSL estimates (J17) |
| adjusting for publication selection bias (C24) | estimated VSL (J17) |
| bias-adjusted estimates using CFOI data (J39) | values consistent with regulatory assessments (L98) |