Robustness of Vsl Values from Contingent Valuation Surveys

64 Pages Posted: 13 Nov 2004

See all articles by Anna Alberini

Anna Alberini

University of Maryland - Department of Agricultural & Resource Economics

Date Written: November 2004

Abstract

This paper examines factors that may influence the estimates of the Value of a Statistical Life obtained from contingent valuation surveys that elicit the willingness to pay (WTP) for mortality risk reductions. We examine the importance of distributional assumptions, the choice of the welfare statistics of interest, the procedure for computing them, outliers, undesirable response effects, and internal validity of the WTP responses. We illustrate the importance of these factors using dichotomous-choice and open-ended WTP data from four recent contingent valuation surveys.

Keywords: Contingent valuation, VSL, WTP, Risk reductions, Robustness, Outliers, Endogeneity

JEL Classification: H41, H51, I18, I31, J17

Suggested Citation

Alberini, Anna, Robustness of Vsl Values from Contingent Valuation Surveys (November 2004). Available at SSRN: https://ssrn.com/abstract=615664 or http://dx.doi.org/10.2139/ssrn.615664

Anna Alberini (Contact Author)

University of Maryland - Department of Agricultural & Resource Economics ( email )

Symmons Hall, Rm 2200
University of Maryland
College Park, MD 20742-5535
United States
301-405-1267 (Phone)
301-314-9091 (Fax)

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