Experimentally estimating the value of a statistical life

Last registered on February 06, 2023

Pre-Trial

Trial Information

General Information

Title
Experimentally estimating the value of a statistical life
RCT ID
AEARCTR-0010101
Initial registration date
October 05, 2022

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
October 17, 2022, 3:51 PM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Last updated
February 06, 2023, 5:21 PM EST

Last updated is the most recent time when changes to the trial's registration were published.

Locations

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Primary Investigator

Affiliation
UC Berkeley

Other Primary Investigator(s)

Additional Trial Information

Status
On going
Start date
2022-10-17
End date
2023-06-01
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
This document proposes a randomized controlled trial (RCT) in Nairobi, Kenya to estimate the value of a statistical life (VSL). Previous work has relied on observational evidence from settings such as transportation or employment decisions to bound individuals' price elasticity of demand for reductions in mortality risk. These approaches assume that individuals have unbiased information about mortality risk, and then use objectively measured risks to estimate demand models. This study first aims to investigate the possibility that individuals have systematically biased beliefs about risk. Second, we aim to generate experimental variation to estimate VSL. We plan to implement this experiment in the context of demand for motorcycle helmets.
External Link(s)

Registration Citation

Citation
Killeen, Grady. 2023. "Experimentally estimating the value of a statistical life." AEA RCT Registry. February 06. https://doi.org/10.1257/rct.10101-2.0
Sponsors & Partners

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Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2022-10-31
Intervention End Date
2023-06-01

Primary Outcomes

Primary Outcomes (end points)
The primary outcome is the value of a statistical life (VSL).
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Semi-elasticity of demand for helmet with respect to information, price elasticity of demand for helmets, and the reduced form effect of each treatment assignment on helmet demand.
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
I plan to conduct a lab-in-the-field experiment that will consist of one survey lasting 15-45 minutes. Respondents will be given randomized information about motorcycle safety, and then all treatment groups will participate in a willingness to accept exercise to measure valuations for motorcycle helmets.
Experimental Design Details
Not available
Randomization Method
Randomization will be conducted in SurveyCTO using the random() function, which uses the Java randomization algorithm to take a pseudo-random draw from a standard uniform distribution. This study does not stratify randomization since the sample is not known en-ante.
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
We estimate 1,000-2,000 surveys.
Sample size: planned number of observations
We estimate 1,000-2,000 surveys.
Sample size (or number of clusters) by treatment arms
The chance of being assigned to pure control is 10%, control 30%, information treatment 1 30% and information treatment 2 30%.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB

Institutional Review Boards (IRBs)

IRB Name
UC Berkeley Committee for Protection of Human Subjects
IRB Approval Date
2022-10-04
IRB Approval Number
2022-07-15518
Analysis Plan

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