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The Value of a Statistical Life is Not Efficient

Over-reliance on the VSL measure often leads to excessive consideration and regulation of risk.

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Efficient Risk Regulations Do Not Increase Risks

As a practical matter, the VSL is successful in balancing the benefits and costs of regulation.

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Putting the Horse Before the Cart in Cost-Benefit Analysis

Regulators must measure welfare using transparent methods before determining the policies themselves.

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The Long-Term Value of the Value of a Statistical Life

The VSL is necessarily based on market preferences that accurately reflect society’s valuation of risks and benefits.

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The Myopic Short-Termism of the Value of a Statistical Life

The primary drawback of the VSL is that it fails to account for future generations’ valuation of benefits and costs.

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Failing to Think Properly About the Value of a Statistical Life

Using the VSL to measure benefits promotes the interests of individuals who are affected by regulation.

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The Value of the Value of a Statistical Life

Analysts debate how agencies should measure the benefits of reducing mortality.

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Rethinking the Value of a Statistical Life

It is time to reconsider the value of the VSL in policy analysis.