Journal ArticleDOI
Smoke Detector Effectiveness and the Value of Saving A Life
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TLDR
The value of life saving from smoke detector purchases is increased fivefold because an economic model finds the effectiveness estimate of home smoke detector effectiveness is about 9 percent.About:
This article is published in Economics Letters.The article was published on 1989-12-01. It has received 31 citations till now. The article focuses on the topics: Smoke.read more
Citations
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Journal ArticleDOI
The value of a statistical life: A critical review of market estimates throughout the world
W. Kip Viscusi,Joseph E. Aldy +1 more
TL;DR: More recently, this article reviewed more than 60 studies of mortality risk premiums from ten countries and approximately 40 studies that present estimates of injury risk premiums, and concluded that an income elasticity of the value of a statistical life from about 0.5 to 0.6 was found.
Journal ArticleDOI
The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World
W. Kip Viscusi,Joseph E. Aldy +1 more
TL;DR: More recently, this article reviewed more than 60 studies of mortality risk premiums from ten countries and approximately 40 studies that present estimates of injury risk premiums, and concluded that an income elasticity of the value of a statistical life from about 0.5 to 0.6 was found.
Journal ArticleDOI
Self-Protection and Averting Behavior, Values of Statistical Lives, and Benefit Cost Analysis of Environmental Policy
TL;DR: In this paper, the authors present a review of statistical life inferred from choices about highway speeds, traveler use of protective equipment, crash- worthiness of motor vehicles, and housing location near Superfund sites.
Journal ArticleDOI
Valuing reduced risks to children: the case of bicycle safety helmets
TL;DR: The market for bicycle safety helmets is studied and for the first time a separate but comparable VSL for children and adults is derived that ranges from $1.1 to $4.0 million.
Book
Handbook of the economics of risk and uncertainty
Mark J. Machina,W. Kip Viscusi +1 more
TL;DR: In this article, the authors present an analysis of individual choice under risk and uncertainty in the context of risk aversion and risk aversion in insurance and public policy, and propose a model of risk preferences and beliefs.
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Posted Content
The Value of Saving a Life: Evidence from the Labor Market
Richard H. Thaler,Sherwin Rosen +1 more
Journal ArticleDOI
The value of reducing risks of death: A note on new evidence
TL;DR: The most credible evidence is based on individuals' willingness to pay (or willingness to accept compensation) for small changes in risks as mentioned in this paper, leading to a range of values that can be compared with the costs of proposals to reduce fatal risks.
Posted Content
The Value of a Life: New Evidence from the Marketplace
TL;DR: In this article, the authors investigated voluntary purchases of smoke detectors to estimate consumer willingness to pay for risk reduction, which can be used to estimate the implicit value of a life, which is then used to calculate the implicit life value.
Journal ArticleDOI
A Benefit-Cost Analysis of Auto Safety Features
Lester B. Lave,Warren E. Weber +1 more
Abstract: (1970). A Benefit-Cost Analysis of Auto Safety Features. Applied Economics: Vol. 2, No. 4, pp. 265-275.