Special Problems with Value-of-Life Estimates: A Reappraisal
6 Pages Posted: 27 Apr 1998
A recent paper titled "Special Problems with Value-of-Life Estimates Based on Wage-Risk Studies in The Miller Survey: A Note" by Staller, Sullivan and Friedman (hereafter SSF) attempts to challenge the efficacy of previously reported empirical wage-risk studies. These earlier papers are important because they provide the most accurate empirical estimates of the value of life currently available in the literature. The SSF paper does not introduce any new empirical evidence but rather relies on SSF?s interpretation of the empirical results reported in a much older paper by Leigh (1991). This paper examines the SSF analysis and finds that their criticism of empirical wage-risk studies is based on a non sequitur fallacy.
JEL Classification: J29, J39
Suggested Citation: Suggested Citation