Viscusi, W. KipAldy, Joseph E.2014-06-032014-06-03200890 Review of Economics and Statistics 573 (2008)http://hdl.handle.net/1803/6391published articleTo resolve the theoretical ambiguity in the effect of age on the value of statistical life (VSL), this article uses a novel, age-dependent fatal risk measure to estimate age-specific hedonic wage regressions. VSL exhibits an inverted-U shaped relationship with age. In the year 2000 cross-section, workers' VSL rises from $3.7 million (ages 18-24), to $9.7 million (35-44), and declines to $3.4 million (55-62). Controlling for birth-year cohort effects in a minimum distance estimator yields a peak VSL of $7.8 million at age 46, and flattens the VSL-age relationship. The value of statistical life-year also follows an inverted-U shape with age.1 PDF (11 pages)application/pdfen-USLife -- ValuationArticlehttp://ssrn.com/abstract=898189