@TechReport{iza:izadps:dp3107,
            	author={Kniesner, Thomas J. and Viscusi, W. Kip and Woock, Christopher and Ziliak, James P.},
            	title={Pinning Down the Value of Statistical Life},
            	year={2007},
	month={Oct},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={3107},
            	url={https://www.iza.org/publications/dp3107},
	abstract={Our research addresses fundamental long-standing concerns in the compensating wage differentials literature and its public policy implications: the econometric properties of estimates of the value of statistical life (VSL) and the wide range of such estimates from about $0.5 million to about $21 million. We address most of the prominent econometric issues by applying panel data, a new and more accurate fatality risk measure, and systematic selection of panel estimator in our research. Controlling for measurement error, endogeneity, individual heterogeneity, and state dependence yields both a reasonable average level and narrow range for the estimated value of a statistical life of about $5.5–$7.5 million.},
	keywords={random effects;fixed effects;panel data;VSL;PSID},
            }