Is there a meaningful definition of the value of a statistical life?

Authors
Johansson, PO
Citation
Po. Johansson, Is there a meaningful definition of the value of a statistical life?, J HEALTH EC, 20(1), 2001, pp. 131-139
Citations number
5
Categorie Soggetti
Economics
Journal title
JOURNAL OF HEALTH ECONOMICS
ISSN journal
01676296 → ACNP
Volume
20
Issue
1
Year of publication
2001
Pages
131 - 139
Database
ISI
SICI code
0167-6296(200101)20:1<131:ITAMDO>2.0.ZU;2-N
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 arl other case s, empirical estimates of the value of a statistical life are biased estima tors of the monetary counterpart to expected present value utility. (C) 200 1 Elsevier Science B.V. All rights reserved. JEL classification: I10.