Recent proposals to provide juries with specific numerical instructions for setting punitive damages should bring greater rationality to punitive damages awards. This approach is tested using evidence from 353 jury-eligible citizens who were asked to apply these formulas to a series of legal...

Proposals to provide juries with specific numerical instructions for setting punitive damages should bring greater rationality to punitive damages awards. This approach is tested using evidence from 353 jury-eligible citizens who applied these formulas to a series of legal cases.Few respondents...

Economic research has developed estimates of the heterogeneity of the value of statistical life (VSL) on dimensions such as individual age, income, immigrant status, and the nature of the risk exposure. This paper examines the empirical evidence on the heterogeneity of VSL and explores the...

We examine differences in the value of statistical life (VSL) across potential wage levels in panel data using quantile regressions with intercept heterogeneity. Latent heterogeneity is econometrically important and affects the estimated VSL. Our findings indicate that a reasonable average cost...

Our research addresses fundamental long-standing concerns in the compensating wage differentials literature and its public policy implications: the econometric properties of estimates of the value of statistical life (VSL) and the wide range of such estimates from about $0.5 million to about $21...