Menu Expand

The Value of Life in Europe – A Meta-Analysis

  1. Journals
  2. Society & Social Sciences
  3. Sozialer Fortschritt
  4. Vol. 57, Issue 10–11
  5. pp. 279–287

JOURNAL ARTICLE

Cite JOURNAL ARTICLE

Style
Kluve, J., Schaffner, S. The Value of Life in Europe – A Meta-Analysis. Sozialer Fortschritt, 57(10–11), 279-287. https://doi.org/10.3790/sfo.57.10-11.279
Kluve, Jochen and Schaffner, Sandra "The Value of Life in Europe – A Meta-Analysis" Sozialer Fortschritt 57.10–11, 2008, 279-287. https://doi.org/10.3790/sfo.57.10-11.279
Kluve, Jochen/Schaffner, Sandra (2008): The Value of Life in Europe – A Meta-Analysis, in: Sozialer Fortschritt, vol. 57, iss. 10–11, 279-287, [online] https://doi.org/10.3790/sfo.57.10-11.279
Format
Download

The Value of Life in Europe – A Meta-Analysis

Kluve, Jochen | Schaffner, Sandra

Sozialer Fortschritt, Vol. 57 (2008), Iss. 10–11 : pp. 279–287

7 Citations (CrossRef)

Preview Login to order (PDF)

Additional Information

Article Details

Publisher Name
Duncker & Humblot
DOI
https://doi.org/10.3790/sfo.57.10-11.279
Language
English
Pages
9

Pricing

Individual
€ 18.00 (incl. local VAT if applicable)

Author Details

Jochen Kluve, Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI), Büro Berlin, Hessische Straße 10, 10115 Berlin.

Sandra Schaffner, Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI), Hohenzollernstraße 1 – 3, 45128 Essen.

Cited By

  1. Valuing Mortality Risk Reductions: Progress and Challenges

    Cropper, Maureen | Hammitt, James K. | Robinson, Lisa A.

    Annual Review of Resource Economics, Vol. 3 (2011), Iss. 1 P.313

    https://doi.org/10.1146/annurev.resource.012809.103949 [Citations: 87]

  2. How Much Is a Human Life Worth? A Systematic Review

    Keller, Elena | Newman, Jade E. | Ortmann, Andreas | Jorm, Louisa R. | Chambers, Georgina M.

    Value in Health, Vol. 24 (2021), Iss. 10 P.1531

    https://doi.org/10.1016/j.jval.2021.04.003 [Citations: 20]

  3. Differential discounting in the economic evaluation of healthcare programs

    John, Jürgen | Koerber, Florian | Schad, Mareike

    Cost Effectiveness and Resource Allocation, Vol. 17 (2019), Iss. 1

    https://doi.org/10.1186/s12962-019-0196-1 [Citations: 16]

  4. Composite Valuation of Immaterial Damage in Flooding: Value of Statistical Life, Value of Statistical Evacuation and Value of Statistical Injury

    Bockarjova, Marija | Rietveld, Piet | Verhoef, Erik T.

    SSRN Electronic Journal, Vol. (2012), Iss.

    https://doi.org/10.2139/ssrn.2047062 [Citations: 9]

  5. Valuing Mortality Risk Reductions: Progress and Challenges

    Cropper, Maureen L. | Hammitt, James K. | Robinson, Lisa A.

    SSRN Electronic Journal, Vol. (2011), Iss.

    https://doi.org/10.2139/ssrn.1788975 [Citations: 0]

  6. Are estimates of the value of a statistical life exaggerated?

    Doucouliagos, Chris | Stanley, T.D. | Giles, Margaret

    Journal of Health Economics, Vol. 31 (2012), Iss. 1 P.197

    https://doi.org/10.1016/j.jhealeco.2011.10.001 [Citations: 85]

  7. Publication selection and the income elasticity of the value of a statistical life

    Doucouliagos, Hristos | Stanley, T.D. | Viscusi, W. Kip

    Journal of Health Economics, Vol. 33 (2014), Iss. P.67

    https://doi.org/10.1016/j.jhealeco.2013.10.010 [Citations: 47]

References

  1. Alberini, A./Chiabai, A. (2005): Urban Environment Health and Sensitive Populations: How Much are the Italians Willing to Pay to Reduce Their Risks? (Working Paper 105.2005). Milano.  Google Scholar
  2. Alberini, A./Hunt, A./Markandya, A. (2006): Willigness to Pay to Reduce Mortality Risks: Evidence from a Three-Country Contingent Valuation Study. Environmental and Resource Economics 33, 251 – 264.  Google Scholar
  3. Alberini, A./Scasný, M./Braun Kohlová, M./Melichar, J. (2004): The Value of a Statistical Life in the Czech Republic: Evidence from a Contingent Valuation Study. In: M. Scasný/J. Melichar (Eds.), Development of the Czech Society in the European Union. Part V: Nonmarket Valuation Methods in Environmental Area. (p. 373 – 391). (Praque, Matfyzpress, Charles University Environment Center.  Google Scholar
  4. Andersson, H. (2005): The Value of Safety as Revealed in the Swedish Car Market: An Application of the Hedonic Pricing Approach. The Journal of Risk and Uncertainty, 30(3), 211 – 239.  Google Scholar
  5. Andersson, H. (2006): Willigness to Pay for Road Safety and Estimates of the Risk and Death (Working Paper). Solna, Sweden.  Google Scholar
  6. Arabsheibani, G. R./Marin, A. (2000): Stability of Estimates of the Compensation for Danger. Journal of Risk and Uncertainty, 20(3), 247 – 269.  Google Scholar
  7. Baranzini, A./Ferro Luzzi, G. (2001): The Economic Value of Risks to Life: Evidence from the Swiss Labour Market. Schweiz. Zeitschrift für Volkswirtschaft und Statistik, 137(2), 149 – 170.  Google Scholar
  8. Barone, A./Nese, A. (1996): Rischio Sul Lavoro E Premio Salariale In Italia (Working Paper). Napoli.  Google Scholar
  9. Beattie, J./Covey, J./Dolan, P./Hopkins, L./Jones-Lee, M./Loomes, G. et al. (1998): On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 1 – Caveat Investigator. Journal of Risk and Uncertainty, 17(5) 5 – 25.  Google Scholar
  10. Bellavance, F./Dionnes, G./Lebeua, M. (2006): The Value of a Statistical Life: A Meta-Analysis with a Mixed Effects Regression Model (Working Paper). Montreal.  Google Scholar
  11. Bellmann, L. (1994): Entlohnung als Risikokompensation. Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, 27(4), 353 – 358.  Google Scholar
  12. Carthy, T./Chilton, S./Covey, J./Hopkins, L./Jones-Lee, M./Loomes, G. et al. (1999): On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 2 – The CV/ SG „Chained“ Approach. Journal of Risk and Uncertainty, 17(3), 187 – 213.  Google Scholar
  13. Day, B. (1999): A Meta-Analysis of Wage-Risk Estimates of the Value of Statistical Life (Working Paper). University College London.  Google Scholar
  14. Desaigues, B./Rabl, A. (1995): Reference Values for Human Life: An Econometric Analysis of a Contingent Valuation in France. In: N. S. Christe /N. Soguel (Eds.), Studies in Risk and Uncertainty - Contingent Valuation, Transport Safety and the Value of Life (pp. 85 – 111). (Boston: Kluwer Academic Publishing).  Google Scholar
  15. Drèze, J. H. (1962): L’Utilité Sociale d’une Vie Humaine. Revue Française de Reserche Opérationelle, 6, 93 – 118.  Google Scholar
  16. EUROSTAT (2008a): Exchange Rates. http://epp.eurostat.ec.europa.eu.  Google Scholar
  17. EUROSTAT (2008b): Prices. http://epp.eurostat.ec.europa.eu.  Google Scholar
  18. Ghosh, D./Lees, D./Seal, W. (1974): Optimal Motorway Speed and some Valuations of Time and Life (Working Paper). University of Nottingham.  Google Scholar
  19. Gyrd-Hansen, D./Halvorsen, P. A./Kristiansen, I. S. (2007): Willingness-To-Pay For a Statistical Life in the Times of a of a Pandemic. Wiley InterSciene.  Google Scholar
  20. Hintermann, B./Alberini, A./Markandya, A. (2006): Estimating the Value of Safety with Labor Market Data: Are the Results Trustworthy? (Working Paper). Milano.  Google Scholar
  21. Hultkrantz, L./Lindberg, G./Andersson, C. (2006): The Value of Improved Road Safety. Journal of Risk and Uncertainty, 32(2), 151 – 170.  Google Scholar
  22. Johannesson, M./Johansson, P.-O./Löfgren, K.-G. (1997): On the Value of Changes in Life Expectancy: Blips Versus Parametric Changes. Journal of Risk and Uncertainty, 15, 221 – 239.  Google Scholar
  23. Johannesson, M./Johansson, P.-O./O’Conor, R. M. (1996): The Value of Private Safety Versus the Value of Public Safety. Journal of Risk and Uncertainty, 13, 263 – 275.  Google Scholar
  24. Jones-Lee, M. (1976): The Value of Life: An Economic Analysis (Working Paper). Chicago: The University of Chicago Press.  Google Scholar
  25. Jones-Lee, M. W./Hammerton, M./Philips, P. (1985): The Value of Safety: Results of a National Sample Survey. The Economic Journal, 95, 49 – 72.  Google Scholar
  26. Kenkel, D. (2003): Using Estimates of the Value of a Statistical Life in Evaluating Consumer Policy Regulations. Journal of Consumer Policy, 26, (1), 1 – 21.  Google Scholar
  27. Kidholm, K. (1995): Assessing the Value of Traffic Safety Using the Contingent Valuation: Technique : The Danish Survey. In: N. S. Christe /N. Soguel, (Eds.), Studies in Risk and Uncertainty, (pp. 45 – 61). (Boston: Kluwer Academic Publishing).  Google Scholar
  28. Leiter, A. M./Pruckner, G. J. (2006): Proportionality of Willigness to Pay to Small Risk Changes - The Impact of Attitudinal Factors in Scope Tests (Working Paper). Milano.  Google Scholar
  29. Lorenz, W. /Wagner, J. (1988): Gibt es kompensierende Lohndifferentiale in der Bundesrepublik Deutschland? Zeitschrift für Wirtschafts- u. Sozialwissenschaften, 108, 371 – 381.  Google Scholar
  30. Maier, G./Gerking, S. /Weiss, P. (1989): The Economics of Traffic Accidents on Austrian Roads: Risk Lovers or Policy Deficit? Empirica – Austrian Economic Papers, 16(2), 177 – 190.  Google Scholar
  31. Marin, A./Psacharopoulos, G. (1982): The Reward for Risk in the Labor Market: Evidence from the United Kingdom and a Reconciliation with Other Studies. The Journal of Political Economy, 90(4), 827 – 853.  Google Scholar
  32. Melinek, S. J. (1974): A Method of Evaluating Human Life for Economic Purposes. Accident analysis and prevention, 6, 103 – 114.  Google Scholar
  33. Melinek, S. J. /Woolley, S. K./Baldwin, R. (1973): Analysis of a Questionnaire on Attitudes. Fire Research Note (962), 1 – 25.  Google Scholar
  34. Miller, T. R. (2000): Variations between Countries in Values of Statistical Life. Journal of Transport and Policy, 23(2), 169 – 188.  Google Scholar
  35. Needleman, L. (1980): The Valuation of Changes in the Risk of Death by Those at Risk. The Manchester School of Economic & Social Studies, 48, 229 – 254.  Google Scholar
  36. Persson, U./Cedervall, M. (1991): The Value of Risk Reduction: Results from a Swedish Sample Survey (IHE Working Paper 1991:6). Lund University.  Google Scholar
  37. Persson, U./Norinder, A./Hjalte, K./Gralén, K. (2001): The Value of a Statistical Life in Transport: Findings from a New Contingent Valuation Study in Sweden. The Journal of Risk and Uncertainty, 23(2), 121 – 134.  Google Scholar
  38. Pratt, J. W./Zeckhauser, R. J. (1996): Willingness to Pay and the Distribution of Risk and Wealth. Journal of Political Economy, 104(4), 747 – 763.  Google Scholar
  39. Sandy, R./Elliot, R. F. (1996): Unions and Risk: Their Impact on the Level of Compensating for Fatal Risk. Economica, 63(250), 291 – 309.  Google Scholar
  40. Schaffner, S./Spengler, H. (2007): Using Job Changes to Evaluate the Bias of the Value of a Statistical Life (Discussion Paper). RWI Essen.  Google Scholar
  41. Spengler, H. (2004): Kompensatorische Lohndifferenziale und der Wert eines statistischen Lebens in Deutschland (Discussion Paper). Darmstadt.  Google Scholar
  42. Viscusi, W./Aldy, J. E. (2003): The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World (NBERWorking Paper No. 9487), Cambridge.  Google Scholar
  43. Viscusi, W. K. (1993): The Value of Risks to Life and Health. Journal of Economic Literature, 31, 1912 – 1946.  Google Scholar
  44. Weiss, P./Maier, G./Gerking, S. (1986): The Economic Evaluation of Job Safety. Empirica, 13(1), 53 – 67.  Google Scholar
  45. Zhu, W. (2003): Valuation of life: a study using discrete choice analysis (Working Paper 2004:3). Ragnar Frisch Centre for Economic Research.  Google Scholar

Abstract

Deciding on the allocation of scarce societal resources to life-saving activities is a problem that a wide variety of regulations and government programs face. In particular, it is a problem arising in very similar ways for social and public policy across countries. A commonly used approach to empirically assess the life-saving benefits of regulations is the Value of a Statistical Life (VSL). The VSL essentially summarizes and expresses the monetary value of small reductions in mortality risks of the population. Such reductions could be brought about, for instance, by environmental regulations aiming at CO2 reduction or health care programs targeting preventive medical examinations. In this paper, we investigate the Value of a Statistical Life in Europe by collating estimates of the VSL across countries. Based on 94 observations from 37 studies, our meta-analysis finds that VSL estimates based on health risks are lower than those based on traffic and environmental risks. Moreover, VSL studies based on wage-risk studies find higher estimates than contingent valuation studies.

Contact

Duncker & Humblot GmbH Carl-Heinrich-Becker-Weg 9 12165 Berlin, Deutschland T: +49 30 790006-0

Quick Navigation

2024 Duncker & Humblot GmbH

Powered by CloudPublish

We use cookies to ensure that you get the best experience on our website. Learn more about how we use cookies.