The value of a statistical life under changes in ambiguity

Han Bleichrodt*, Christophe Courbage, Béatrice Rey

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

5 Citations (Scopus)


The value of a statistical life (VSL) is a key parameter in the analysis of government policy. Most policy decisions are made under ambiguity. This paper studies the effect of changes in ambiguity perception on the VSL. We propose a definition of increases in ambiguity perception based on Ekern’s (1980) definition of increases in risk. Ambiguity aversion alone is not sufficient to lead to an increase in the VSL when the decision maker perceives more ambiguity. Our results highlight the importance of higher order ambiguity attitudes, particularly ambiguity prudence.

Original languageEnglish
Pages (from-to)1-15
JournalJournal of Risk and Uncertainty
Issue number1
Publication statusPublished - 24 Apr 2019

Bibliographical note

Funding Information:
We are grateful to Kip Viscusi, Aur?lien Baillon, and an anonymous reviewer for their comments on earlier versions of this paper. We thank Christina Stoddard for her careful proofreading. This research has benefited from the financial support of IDEXLYON from Universit? de Lyon (project INDEPTH) within the Programme Investissements d?Avenir (ANR-16-IDEX-0005).

Publisher Copyright:
© 2019, The Author(s).


Dive into the research topics of 'The value of a statistical life under changes in ambiguity'. Together they form a unique fingerprint.

Cite this