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ERIC Number: EJ817012
Record Type: Journal
Publication Date: 2008-Dec
Pages: 14
Abstractor: As Provided
Reference Count: 19
ISSN: ISSN-0146-3934
An Expressed Preference Determination of College Students' Valuation of Statistical Lives: Methods and Implications
Brady, Kevin L.
College Student Journal, v42 n4 p968-981 Dec 2008
Government agencies typically apply a general value of statistical life (VSL) estimate when performing cost-benefit analysis (CBA). However, theory suggests that college students attach a value to statistical lives that differs from society's VSL; therefore, CBA may lead to inefficient levels of risk reduction among students. A contingent valuation survey of 137 students was conducted to calculate Utah State University students' VSL; the sample's representativeness enables statistical inferencing. Regression models indicate that the students possessed an adequate understanding of mortality risk reduction. The students' inferred VSL of $2.96 million is significantly lower than the $5.4 million societal estimate computed by Kochi et al. (2006). This suggests that students are required to pay more for risk reduction than they are willing. (Contains 7 tables and 6 footnotes.)
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Utah