You are here:
Report of the EPA Work Group on VSL Meta-analysis
In December 2005 a work group convened by the Environmental Protection Agency met to discuss the meta-analysis of estimates of the value of statistical life (VSL) and to examine three existing meta-analyses. The following report contains an analysis of the use of meta-analytic procedures to determine an estimate of VSL. Many detailed issues are covered in this report, but several general comments are also highlighted.
Whereas meta-analysis is a reasonable analytical approach to use in obtaining information about VSL, the existing meta-analyses should not be combined in this effort. The key issues the work group uncovered include a high degree of heterogeneity (inconsistency) in the VSL estimates and dependencies (that could not be accounted for) stemming from inclusion of multiple estimates derived from the same underlying data; these issues preclude relying on these meta-analyses as a source of a final VSL estimate.
The work group recommends that in future meta-analyses results of contingent valuation and hedonic wage studies be analyzed separately. A basic consideration for the EPA is the determination of whether a single universal VSL value is applicable to all relevant subpopulations, or whether multiple VSL values should be provided for subpopulations. In particular, meta-analytic methods provide a variety of ways that could be used to characterize a population of VSL values.
1. Benefits Analysis
1. Benefits Analysis - Valuation
1. Benefits Analysis - Valuation - Stated Preference
1. Benefits Analysis - Valuation - Stated Preference - Contingent Valuation
1. Benefits Analysis - Valuation - Revealed Preference
1. Benefits Analysis - Valuation - Revealed Preference - Wage Differential
1. Benefits Analysis - Valuation - OtherEnvironmental Media:
f. MultimediaAuthors: Allen, Eilaine
Becker, Betsy Jane
Berlin, Jesse A.
Morton, Sally C.
Sampson, Allan R.
Wilson, David B.EPA Project Officer/ Manager:
Simon, NathalieGeographic Area:Study Purpose: Methodology Development & Evaluation
- Participating Organizations
Environmental Protection Agency, Office of Policy, Economics, and Innovation, National Center for Environmental Economics Address:
City: State: ZIP:
- Report Details
FinalDate: 07/25/2006Number of Pages: 35
- How to Obtain Report