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Skill and the Value of Life


Jason F. Shogren


University of Wyoming - College of Business - Department of Economics and Finance

Tommy Stamland


Norwegian School of Economics (NHH) - Department of Finance and Management Science

Journal of Political Economy, Vol. 110, 2002

Abstract:     
The value of statistical life (VSL) can be inferred through real-world wage-fatality risk trade-offs made across different occupations. This paper shows that the VSL based on the wage-risk trade-off tends to be biased upward if it does not account for the diversity of workers; unobservable skill to cope privately with job risk. This upward bias arises because the highest required wage differential among the workers is divided by their average risk across the population.

Accepted Paper Series


Date posted: November 11, 2002  

Suggested Citation

Shogren, Jason F. and Stamland, Tommy, Skill and the Value of Life. Journal of Political Economy, Vol. 110, 2002. Available at SSRN: http://ssrn.com/abstract=327065

Contact Information

Jason F. Shogren (Contact Author)
University of Wyoming - College of Business - Department of Economics and Finance ( email )
121 Ross Hall
Laramie, WY 82071-3985
United States
307-766-5430 (Phone)
307-766-5090 (Fax)
Tommy Stamland
Norwegian School of Economics (NHH) - Department of Finance and Management Science ( email )
Helleveien 30
N-5045 Bergen
Norway
+47 55 95 93 08 (Phone)
+47 55 95 96 50 or 47 (Fax)
Feedback to SSRN (Beta)


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