%0 Report
        %A Cramer, Robert J
%A Kniesner, Thomas J.
%A Viscusi, W. Kip
        %T Employer Monopsony Power  Does Not Reduce the Value of a Statistical Life
        %D 2025
        %8 2025 Oct
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 18173
        %U https://www.iza.org/publications/dp18173
        %X Although wage rates are lower when employers have monopsony power, we find that the value of a statistical life (VSL) is not reduced when labor markets are more concentrated. Because the estimated VSL is the product of the wage and the wage-risk tradeoff rate, a greater tradeoff rate in highly concentrated U.S. labor markets produces a larger VSL. The general relationship we find is robust with respect to different labor market data. Our results provide the first evidence contradicting policy-related concerns that the VSL is lower in monopsonistic labor markets.
        %K monopsony
%K VSL
%K value of a statistical life
%K concentration
%K HHI