Aldy, Joseph E.; Viscusi, W. Kip - In: The Review of Economics and Statistics 90 (2008) 3, pp. 573-581
To resolve the theoretical ambiguity in the effect of age on the value of statistical life (VSL), this article uses a novel, age-dependent fatal risk measure to estimate age-specific hedonic wage regressions. VSL exhibits an inverted-U-shaped relationship with age. In the year 2000 cross...