The Value of a Statistical Life: Evidence from Panel Data

Kniesner, Thomas J.; Viscusi, W. Kip; Woock, Christopher; Ziliak, James P.

doi:10.1162/rest_a_00229

Cited by 168 publications

(128 citation statements)

References 34 publications

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“…Monetized damages are driven largely by the value placed on premature deaths from air pollution. The damage estimates used here value mortality at $6 million (11,25).…”

Section: Methodsmentioning

confidence: 99%

Regional variations in the health, environmental, and climate benefits of wind and solar generation

Siler-Evans¹,

Azevedo²,

Morgan³

et al. 2013

Proc. Natl. Acad. Sci. U.S.A.

154

117

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When wind or solar energy displace conventional generation, the reduction in emissions varies dramatically across the United States. Although the Southwest has the greatest solar resource, a solar panel in New Jersey displaces significantly more sulfur dioxide, nitrogen oxides, and particulate matter than a panel in Arizona, resulting in 15 times more health and environmental benefits. A wind turbine in West Virginia displaces twice as much carbon dioxide as the same turbine in California. Depending on location, we estimate that the combined health, environmental, and climate benefits from wind or solar range from $10/MWh to $100/MWh, and the sites with the highest energy output do not yield the greatest social benefits in many cases. We estimate that the social benefits from existing wind farms are roughly 60% higher than the cost of the Production Tax Credit, an important federal subsidy for wind energy. However, that same investment could achieve greater health, environmental, and climate benefits if it were differentiated by region.

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“…Monetized damages are driven largely by the value placed on premature deaths from air pollution. The damage estimates used here value mortality at $6 million (11,25).…”

Section: Methodsmentioning

confidence: 99%

Regional variations in the health, environmental, and climate benefits of wind and solar generation

Siler-Evans¹,

Azevedo²,

Morgan³

et al. 2013

Proc. Natl. Acad. Sci. U.S.A.

154

117

View full text Add to dashboard Cite

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“…Alternatively, the annual measure should be a more pertinent measure of the risk in that particular survey year. Kniesner, et al (2012) show that the main source of variation identifying compensating differentials for fatal injury risk comes from workers who switch industry-occupation cells over time. That is, some changes in fatal injury risk occur because of within industry-occupation cell changes and others occur because workers switch industry-occupation cells.…”

Section: Data and Regression Variablesmentioning

confidence: 99%

“…As we emphasize in Kniesner et al (2012), it is crucial to control for latent worker heterogeneity when estimating the compensating wage differentials, and thus we adopt the firstdifference transformation as a baseline because wages have been shown to be non-stationary.…”

Section: Baseline Wage Equation Estimatesmentioning

confidence: 99%

“…However, with but a few exceptions (Brown 1980, Villanueva 2007, Schaffner and Spengler 2010, and Kniesner, Viscusi, Woock, and Ziliak 2012 To summarize our research, first we provide a theoretical framework in which there are reference point effects whereby workers can be particularly averse to changes on dimensions that make them worse off. There could be a reference effect associated with either a decrease in wages or an increase in the fatal injury risk.…”

Section: Introductionmentioning

confidence: 99%

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Willingness to Accept Equals Willingness to Pay for Labor Market Estimates of the Value of Statistical Life

2012

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“…Using panel data, for example, Kniesner et al (2012) report estimates of the value of a statistical life between $6 and $26 million, in which the confidence interval for the former includes zero! Worse, perhaps, Dorman and Hagstrom (1998) find that for non-union workers, the mean differential is in fact negative.…”

Section: Introductionmentioning

confidence: 99%

Compensating differentials in experimental labor markets

Carpenter

Matthews

Robbett

2017

Journal of Behavioral and Experimental Economics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author.IZA Discussion Paper No. 8820 January 2015 ABSTRACT Compensating Differentials in Experimental Labor MarketsThe theory of compensating differentials has proven difficult to test with observational data: the consequences of selection, unobserved firm and worker characteristics, and the broader macroeconomic environment complicate most analyses. Instead, we construct experimental, real-effort labor markets and offer an evaluation of the theory in a controlled setting. We study both the wage differentials that evolve between firms with varying degrees of disamenity and how these differentials are affected by worker mobility and therefore selection. Consistent with the theory, we find that riskier firms must pay significantly higher wages to attract workers. Further, when workers are mobile, they sort into firms according to their attitudes towards risk and, as a result, the compensating differential shrinks. Last, we are also able to mimic the biases associated with observational studies.JEL Classification: J31, D01, C92

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The Value of a Statistical Life: Evidence from Panel Data

Cited by 168 publications

References 34 publications

Regional variations in the health, environmental, and climate benefits of wind and solar generation

Regional variations in the health, environmental, and climate benefits of wind and solar generation

Willingness to Accept Equals Willingness to Pay for Labor Market Estimates of the Value of Statistical Life

Compensating differentials in experimental labor markets

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