Inequality and the Value of a Statistical Life
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In this article , a uniform value of a statistical life (VSL) is part of established practice within the federal government, and whether a uniform VSL is in the interest of poor people depends on whether we are dealing with subsidies or regulations.Abstract:
Abstract A uniform value of a statistical life (VSL) is part of established practice within the federal government. Some people have applauded a uniform VSL on the ground that it respects the equality of persons; takes harm to poor people as seriously as it does harm to wealthy people; avoids expressive harms; and builds appropriate wealth redistribution into regulatory policy. Other people have strenuously objected to a uniform VSL, emphasizing that to reduce mortality risks, poor people are willing to pay less than rich people are, and urging that poor people should not have to pay more than they are willing to pay. Whether a uniform VSL is in the interest of poor people depends on whether we are dealing with subsidies or regulations. In the case of subsidies, a uniform VSL is highly likely to benefit poor people. If we are dealing with regulations, we cannot know whether a uniform VSL helps or harms poor people without knowing the incidence of costs (and benefits).read more
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Promoting Equity through Equitable Risk Tradeoffs
TL;DR: In this paper , the impact and economic merits of President Biden's Executive Order 13985 on equity depend on how the executive order is implemented, and the starting point for ex ante evaluation of equity for mortality risk policies should be the symmetric application of the value of a statistical life to all groups.
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Distributional Weights in Economic Analysis.
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Distribution and Disputation: Net Benefits, Equity, and Public Decision Making
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References
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Why the legal system is less efficient than the income tax in redistributing income
Louis Kaplow,Steven Shavell +1 more
TL;DR: In this article, the authors argue that using legal rules to take up some of the slack and promote distributional objectives is less efficient than using the income tax system to redistribute income.
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The Value of a Statistical Life
Henrik Andersson,Nicolas Treich +1 more
TL;DR: In this article, the value of a statistical life (VSL) has been surveyed for the Handbook in Transport Economics, edited by Andre de Palma, Robin Lindsey, Emile Quinet and Roger Vickerman.
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Willingness to Pay Versus Welfare
TL;DR: For example, this paper showed that the absence of a connection between increases in Gross Domestic Product and self-reported happiness is highly suggestive that people may overestimate the welfare effects of both losses and gains.
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The Distributional Effects of Uniform Air Pollution Policy in the United States
TL;DR: This paper presents a meta-analysis of the distribution of net benefits in the Republic of Ireland over a 25-year period from 1991 to 2002 and concludes that the policy implications are policy implications and conclusions.
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The Heterogeneity of the Value of Statistical Life: Introduction and Overview
TL;DR: In this article, the authors explored the heterogeneity of the value of statistical life (VSL) within the worker population and found that the specific relationship between VSL and risk aversion is more complex than previously understood.