The Value of Statistical Life: A Meta-Analysis of Meta-Analyses

Abstract The value of statistical life (VSL) is arguably the most important number in benefit–cost analyses environmental, health, and transportation policies. However, agencies have used a wide range VSL values. One reason may be embarrassment riches when it comes to studies. While meta-analysis standard way synthesize information across studies, we now multiple competing meta-analyses reviews. Thus, analysts, picking one such feel as hard single “best study.” This article responds by taking another step, estimating (or mixture distribution) seven meta-analyses. baseline model yields central $8.0 m, with 90 % confidence interval $2.4–$14.0 m. provided code allows users easily change subjective weights on add new or adjustments for income, inflation, latency.