Date Thesis Awarded

4-2017

Document Type

Honors Thesis

Degree Name

Bachelors of Arts (BA)

Department

Economics

Advisor

Tatyana Kuzmenko

Committee Member

Jennifer Mellor

Committee Member

Joel Schwartz

Abstract

The Value of Statistical Life (VSL) is used in policy analysis to calculate the benefit of risk-reducing policy initiatives. College students are currently overlooked in the literature, for no college student-specific VSL estimate exists. In this study, I discuss why VSL estimates for the general population cannot be applied to college students. I also derive a college student-specific VSL using a willingness-to-pay survey. I found that payment vehicle has a large impact on students’ willingness-to-pay for risk reduction, and college student VSLs are substantially lower than those of the general population.