Skip to main content
Have a personal or library account? Click to login
The Value of Statistical Life and Quantification of Labor Market Frictions Cover

The Value of Statistical Life and Quantification of Labor Market Frictions

Open Access
|Jun 2026

References

  1. Administration for Children and Families, U.S. Department of Health and Human Services. 2021. Vaccine and Mask Requirements To Mitigate the Spread of COVID-19 in Head Start Programs. Retrieved from https://www.federalregister.gov/d/2021-25869/page-68097
  2. Ashley, Elizabeth M. 2024. “Welfare Analysis with Multiple Markets, Multiple Market Failures or Suboptimal Policy Calibration.” Journal for Economic Educators, 24, 1-12.
  3. Banzhaf, H. Spencer. 2022. “The Value of Statistical Life: A Meta-Analysis of Meta-Analyses.” Journal of Benefit-Cost Analysis, 13, 182-197.
  4. Bartik, Timothy J. 2015. “The Social Value of Job Loss and Its Effect on the Costs of U.S. Environmental Regulations.” Review of Environmental Economics and Policy, 9(2): 179-197.
  5. Cameron, Trudy Ann and J.R. DeShazo. 2013. “Demand for Health Risk Reductions.” Journal of Environmental Economics and Management, 65, 87-109.
  6. Cardoso, Diego S. and Ricardo Dahis. 2024. “Calculating the Economic Value of Non-Marginal Mortality Risk Reductions.” Economics Letters, 237, 111673.
  7. Chen, Yixing, Shrihari Sridhar, Kyuhong Han, Sonam Singh, Vikas Mittal, and Taehoon Im. 2024. “The Value of Safety Training for Business-to-Business Firms.” Journal of Marketing Research, 61, 742-759.
  8. Cohn, Jonathan B. and Malcolm I. Wardlaw. 2016. “Financing Constraints and Workplace Safety.” The Journal of Finance, 71, 2017-2058.
  9. Cramer, Robert J., Thomas J. Kniesner and W. Kip Viscusi. 2025. “Employer Monopsony Power Does Not Reduce the Value of a Statistical Life.” IZA Discussion Paper No. 18173.
  10. Federal Aviation Administration, U.S. Department of Transportation. 2013. Final Regulatory Evaluation: Pilot Certification and Qualification Requirements for Air Carrier Operations. Retrieved from https://www.regulations.gov/document/FAA-2010-0100-1925
  11. Gentry, Elissa P. and W. Kip Viscusi. 2023. “When Patients Are Assailants: Valuing Occupational Risks in Health Care.” Journal of Benefit-Cost Analysis, 14, 356–385.
  12. Hammitt, James K. and Nicolas Treich. 2007. “Statistical vs. Identified Lives in Benefit-Cost Analysis.” Journal of Risk and Uncertainty, 35, 45-66.
  13. Hammitt, James K. 2020. “Valuing Mortality Risk in the Time of COVID-19.” Journal of Risk and Uncertainty, 61, 129-154.
  14. Hammitt, James K., Jin-Tan Liu and Jin-Long Liu. 2022. “Is Survival a Luxury Good? Income Elasticity of the Value per Statistical Life.” Journal of Risk and Uncertainty, 65, 239-260.
  15. Herzog, Jr., Henry W. and Alan M. Schlottmann. 1990. “Valuing Risk in the Workplace: Market Price, Willingness to Pay, and the Optimal Provision of Safety.” Review of Economics and Statistics, 72, 463-470.
  16. Johnson, Matthew S., Daniel Schwab and Patrick Koval. 2024. “Legal Protection Against Retaliatory Firing Improves Workplace Safety.” Review of Economics and Statistics, 106, 1236-1253.
  17. Kerndler, Martin. 2023. “Occupational Safety in a Frictional Labor Market.” Labour Economics, 83, 102388.
  18. Kniesner, Thomas J. and John D. Leeth. 1988. “Simulating Hedonic Labor Market Models: Computational Issues and Policy Applications.” International Economic Review, 29, 755-789.
  19. Kniesner, Thomas J. and John D. Leeth. 2014. “Regulating Occupational and Product Risks.” In Handbook of the Economics of Risk and Uncertainty, Volume 1. Elsevier, 493–600.
  20. Kniesner, Thomas J., W. Kip Viscusi, Christopher Woock and James P. Ziliak. 2012. “The Value of a Statistical Life: Evidence from Panel Data.” Review of Economics and Statistics, 94, 74-87.
  21. Kuminoff, Nicolai V., Todd Schoellman and Christopher Timmins. 2015. “Environmental Regulations and the Welfare Effects of Job Layoffs in the United States: A Spatial Approach.” Review of Environmental Economics and Policy, 9(2): 198-218.
  22. Liu, Qing, Ruosi Lu, Stephen Teng Sun, and Meng Zhang. 2024. “Unintended Workplace Safety Consequences of Minimum Wages.” Journal of Public Economics 239, 104247.
  23. Manning, Alan. 2011. “Imperfect Competition in the Labor Market.” In Handbook of Labor Economics, Volume 4, 973–1041. Elsevier.
  24. Martínez Pérez, Jorge E. and Ildefonso Méndez Martínez. 2009. “¿Qué Podemos Saber sobre el Valor Estadístico de la Vida en España Utilizando Datos Laborales?” Hacienda Pública Española / Revista de Economía Pública, 191, 73-93.
  25. Mridha, Hosne A. and Farida C. Khan. 2023. “Estimating the Value of Gender- and Race-Specific Job Injury Risk.” The Economic and Labour Relations Review, 34, 140-156.
  26. Occupational Safety and Health Administration, U.S. Department of Labor. 2016. Walking-Working Surfaces and Personal Protective Equipment (Fall Protection Systems). Retrieved from https://www.federalregister.gov/documents/2016/11/18/2016-24557/walking-working-surfaces-and-personal-protective-equipment-fall-protection-systems
  27. Occupational Safety and Health Administration, U.S. Department of Labor. 2024. Heat Injury and Illness Prevention in Outdoor and Indoor Work Settings. Retrieved from https://www.federalregister.gov/d/2024-14824/page-71001
  28. Robinson, Lisa A. and James K. Hammitt. 2016. “Valuing Reductions in Fatal Illness Risks: Implications of Recent Research.” Health Economics, 25, 1039–1052.
  29. Robinson, Lisa A., James K. Hammitt, and Lucy O’Keeffe. 2019. “Valuing Mortality Risk Reductions in Global Benefit-Cost Analysis.” Journal of Benefit-Cost Analysis, 10, 15-50.
  30. Rogerson, Richard. 2015. “A Macroeconomic Perspective on Evaluating Environmental Regulations.” Review of Environmental Economics and Policy, 9, 219-238.
  31. Seong, Si Kyung and John Mendeloff. 2004. “Assessing the Accuracy of OSHA’s Projections of the Benefits of New Safety Standards.” American Journal of Industrial Medicine, 45, 313-328.
  32. Singleton, Perry. 2024. “Risk Perception, Dread, and the Value of Statistical Life: Evidence from Occupational Fatalities.” Working Paper No. 263, Center for Policy Research, The Maxwell School, Syracuse University.
  33. Stewart, Mark G. and John Mueller. 2013. “Aviation Security, Risk Assessment, and Risk Aversion for Public Decisionmaking.” Journal of Policy Analysis and Management, 32, 615-633.
  34. Viscusi, W. Kip. and Joseph E. Aldy. 2003. “The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World.” Journal of Risk and Uncertainty, 27, 5-76.
  35. Viscusi, W. Kip. and Elissa P. Gentry. 2015. “The Value of a Statistical Life for Transportation Regulations: A Test of the Benefits Transfer Methodology.” Journal of Risk and Uncertainty, 51, 53-77.
  36. Viscusi, W. Kip. 2015. “Pricing Lives for Corporate and Governmental Risk Decisions.” Journal of Benefit-Cost Analysis, 6, 227-246.
  37. Viscusi, W. Kip. 2018. “Best Estimate Selection Bias in the Value of a Statistical Life.” Journal of Benefit-Cost Analysis, 9, 205-246.
  38. Walker, W. Reed. 2013. “The Transitional Costs of Sectoral Reallocation: Evidence from the Clean Air Act and the Workforce.” Quarterly Journal of Economics, 128, 1787-1835.
Language: English
Page range: 1 - 8
Published on: Jun 11, 2026
In partnership with: Paradigm Publishing Services
Publication frequency: 1 issue per year

© 2026 Elisabeth Ashley, published by Asociacion Española de Economia del Trabajo
This work is licensed under the Creative Commons Attribution-NonCommercial 4.0 License.