The value of a statistical life (VSL) monetizes the expected loss in well-being associated with the risk of death. The utility loss resulting from a fatality is central to the empirical framework for estimating the VSL. The VSL trajectory over the life cycle exhibits an inverted-U shape,...

We study the impact of risky human capital in life-cycle portfolio choice and survey the academic literature on the optimal asset allocation over the individual's life-cycle. A distinction is made between the riskless conception of human capital as having bond-like characteristics, and the risky...