This paper exploits an unusual transportation setting to generate some of the first revealed preference value of a statistical life (VSL) estimates from a low-income setting. We estimate the trade-offs individuals are willing to make between mortality risk and cost as they travel to and from the international airport in Sierra Leone. The setting and original dataset allow us to address some typical omitted variable concerns, and also to compare VSL estimates for travelers from different countries, all facing the same choice situation. The average VSL estimate for African travelers in the sample is US$ 577,000 compared to US$ 924,000 for non-Africans.
"Risky Transportation Choices and the Value of a Statistical Life."
American Economic Journal: Applied Economics,
Value of Life; Forgone Income
Economic Development: Human Resources; Human Development; Income Distribution; Migration
Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise