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VSLY

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AcronymDefinition
VSLYValue of Statistical Life Year (labor market estimate)


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QALY AND VSLY A common critique of the role of VSL in regulatory analysis is that it fails to distinguish between the life saved of someone young as opposed to someone close to the end of a life.
Proponents of the VSLY measurement argue that it is a superior means of evaluating regulations because it accounts for the difference between saving the life of the elderly and saving the life of someone who has comparatively many more years to live.
Using this concept, we assign a constant value per year of life lost, although the idea that VSLY would be constant is inconsistent with standard economic theory (because the opportunity cost of spending depends on age).
 
 
 
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