방법 비교

	Value of Statistical Life	특성가격모형(Hedonic Pricing Model)
분야	경제학	경제학
계열	Process / pipeline	Regression model
기원 연도	2003	1974
창시자	Thomas Schelling; W. Kip Viscusi (empirical synthesis)	Sherwin Rosen
유형	Nonmarket valuation of mortality-risk reductions	Revealed preference valuation method
원전	Viscusi, W. K., & Aldy, J. E. (2003). The value of a statistical life: a critical review of market estimates throughout the world. Journal of Risk and Uncertainty, 27(1), 5–76.	Rosen, S. (1974). Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition. Journal of Political Economy, 82(1), 34–55.
별칭	VSL, Value of Statistical Life, Value per Statistical Life, Statistical Value of Life	Hedonic Regression, Characteristics Pricing Model
관련	3	3
요약	The value of a statistical life (VSL) is the marginal rate of substitution between income and the probability of death — how much a population is collectively willing to pay for a small reduction in mortality risk, expressed per expected life saved. It is not the value of any identified person's life but the aggregate willingness to trade money for tiny risk changes: if 100,000 people each pay $100 to reduce their annual fatality risk by one in 100,000, society spends $10 million to prevent one statistical death, implying a VSL of $10 million. VSL is the central input to benefit-cost analysis of health, safety, and environmental regulations, and is estimated from labor-market wage-risk data (revealed preference) or from surveys (stated preference).	The hedonic pricing model, developed by Sherwin Rosen in 1974 and building on Kevin Lancaster's characteristics theory (1966), is an econometric method for valuing the implicit prices of product attributes by regressing market prices on observed characteristics. It reveals the trade-offs consumers are willing to make among product features and can be used to infer valuations of environmental amenities (e.g., air quality via house prices) and to adjust price indices for quality changes.