We show that ambiguity aversion increases the value of a statistical life as soon as the marginal utility of wealth is … higher if alive than dead. The intuition is that ambiguity aversion has a similar effect as an increase in the perceived … baseline mortality risk, and thus operates as the “dead anyway” effect. We suggest, however, that ambiguity aversion should …

We show that ambiguity aversion increases the value of a statistical life as soon as the marginal utility of wealth is … higher if alive than dead. The intuition is that ambiguity aversion has a similar effect as an increase in the perceived … baseline mortality risk, and thus operates as the "dead anyway" effect. We suggest, however, that ambiguity aversion should …

are made under ambiguity. This paper studies the effect of changes in ambiguity perception on the value of a statistical … life (VSL). We propose a definition of increases in ambiguity perception based on Ekern's (1980) definition of increases in … risk. Ambiguity aversion alone is not sufficient to lead to an increase in the VSL when the decision maker perceives more …

how the resolution of uncertainty may affect the regret averse individual's willingness to pay, and how the attribution …