Doubling the Estimated Value of Life: Results Using New Occupational Fatality Data

Michael Moore*, W. Kip Viscusi

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Using a new series of data on occupational fatalities compiled by the National Institute for Occupational Safety and Health, the authors reassess value-oflife calculations based on labor market tradeoffs between fatality risks and wages. The new data are less subject to the problems of measurement error that plague previously used measures of risk. They indicate higher risk levels than previously believed and a significantly different composition of risk levels within industries. The more comprehensive risk data yield value-of-life estimates of §5 million or more-at least twice as large as estimates obtained using the Bureau of Labor Statistics risk data employed in previous studies.

Original languageEnglish (US)
Title of host publicationCost-Benefit Analysis and Public Policy
PublisherBlackwell Publishing Ltd
Pages125-138
Number of pages14
ISBN (Print)9781405190169
DOIs
StatePublished - Apr 22 2009

Keywords

  • Results from new occupational fatality data
  • The Death-Risk Variables
  • The Sample and the Variables
  • Wage Equations and the Value of Life

ASJC Scopus subject areas

  • Social Sciences(all)

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