@TechReport{iza:izadps:dp1037, author={Ashenfelter, Orley and Greenstone, Michael}, title={Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias}, year={2004}, month={Mar}, institution={Institute of Labor Economics (IZA)}, address={Bonn}, type={IZA Discussion Paper}, number={1037}, url={https://www.iza.org/publications/dp1037}, abstract={In this paper we show that omitted variables and publication bias lead to severely biased estimates of the value of a statistical life. Although our empirical results are obtained in the context of a study of choices about road safety, we suspect that the same issues plague the estimation of monetary trade-offs regarding safety in other contexts.}, keywords={omitted variables bias;publication bias;value of a statistical life;speed limits;traffic safety}, }