Document Type

Article

Date

7-22-2011

Embargo Period

9-26-2012

Keywords

statistical life, risk, cost-benefit, mountaineering, internet wayback machine

Disciplines

Economics

Description/Abstract

This paper estimates the value of a statistical life from commercial Himalayan expeditions. Because deaths occur with a fair amount of regularity, fatality rates are calculated for each mountain trail and are, hence, disaggregated measures of risk. Also, since the marginal product of labor in the industry is (in part) the marginal product of safety, our revenue measures may account for unobserved safety-related productivity of guides. Guide safety is explicitly observed by market participants, and is reflected in higher wages for safer guides. Our VSL estimates are about $5 M.

Source

local input

Creative Commons License

Creative Commons Attribution 3.0 License
This work is licensed under a Creative Commons Attribution 3.0 License.

Included in

Economics Commons

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