Table 9 EPA Guidelines Summary VSL of Statistical Life Study Method (million dollars) Kniesner and Leeth (1991 - US) Revealed Preference $0.85 Smith and Gilbert (1984) Revealed Preference $0.97 Revealed Preference $1.34 Dillingham (1985) Butler (1983) Revealed Preference $1.58 Stated Preference $1.82 Miller and Guria (1991) Moore and Viscusi (1988) Revealed Preference $3.64 Viscusi, Magat, and Huber (1991) Stated Preference $4.01 Marin and Psacharopolous (1982) Revealed Preference $4.13 et al. (1985) Stated Preference $4.86 Revealed Preference $4.86 Kniesner and (1991 - Australia) Gerking, de Haan and Schulze Stated Preference $4.98 (1988) Cousineau, Lecriox, and Girard Revealed Preference $5.34 (1988) Stated Preference $5.59 Jones - Lee (1989) Dillingham (1985) Revealed Preference $5.71 Revealed Preference $6.07 Viscusi (1978) R.K. Smith (1974) Revealed Preference $6.80 V.K. Smith (1983) Revealed Preference $6.92 Revealed Preference $7.65 Olson (1981) Viscusi (1981) Revealed Preference $9.60 Revealed Preference $10.57 R.S. Smith (1974) Moore and Viscusi (1988) Revealed Preference $10.69 Revealed Preference $11.18 Kniesner and (1991 - Japan) Herzog and Schlottman (1987) Revealed Preference $13.36 Leigh and Folsom (1984) Revealed Preference $14.21 Leigh (1987) Revealed Preference $15.31 Garen (1988) Revealed Preference $19.80 Alternative VSL Estimates and VSL Adjustment Considerations Other US government agencies use their own estimate for VSL, with values ranging between $1 and $10 million. The RTF Staff investigated the influence of population age on VSL estimates. Although all federal agencies employ a uniform VSL number across all age groups, a study by Aldy and Viscusi argues that VSL vary by age. The study states that
Table 9 EPA Guidelines Summary VSL Study Method of Statistical Life (million dollars) Kniesner and Leeth (1991 - US) Revealed Preference $0.85 Smith and Gilbert (1984) Revealed Preference $0.97 Dillingham (1985) Revealed Preference $1.34 Butler (1983) Revealed Preference $1.58 Miller and Guria (1991) Stated Preference $1.82 Moore and Viscusi (1988) Revealed Preference $3.64 Viscusi, Magat, and Huber (1991) Stated Preference $4.01 Marin and Psacharopolous (1982) Revealed Preference $4.13 et al. (1985) Stated Preference $4.86 Kniesner and (1991 - Australia) Revealed Preference $4.86 Gerking, de Haan and Schulze (1988) Stated Preference $4.98 Cousineau, Lecriox, and Girard (1988) Revealed Preference $5.34 Jones - Lee (1989) Stated Preference $5.59 Dillingham (1985) Revealed Preference $5.71 Viscusi (1978) Revealed Preference $6.07 R.K. Smith (1974) Revealed Preference $6.80 V.K. Smith (1983) Revealed Preference $6.92 Olson (1981) Revealed Preference $7.65 Viscusi (1981) Revealed Preference $9.60 R.S. Smith (1974) Revealed Preference $10.57 Moore and Viscusi (1988) Revealed Preference $10.69 Kniesner and (1991 - Japan) Revealed Preference $11.18 Herzog and Schlottman (1987) Revealed Preference $13.36 Leigh and Folsom (1984) Revealed Preference $14.21 Leigh (1987) Revealed Preference $15.31 Garen (1988) Revealed Preference $19.80 Alternative VSL Estimates and VSL Adjustment Considerations Other US government agencies use their own estimate for VSL, with values ranging between $1 and $10 million. The RTF Staff investigated the influence of population age on VSL estimates. Although all federal agencies employ a uniform VSL number across all age groups, a study by Aldy and Viscusi argues that VSL vary by age. The study states that
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