On the value of a statistical life

The analysis of health and safety regulations requires placing a monetary value in reductions in health risks, including risk of death. In developed countries the value of a statistical life (VSL) is a measure used to value reductions in risks of death. The VSL can be calculated using different approaches and statistical models. For United States and Canada there are several estimations of the VSL. Unfortunately there are no studies that calculate the VSL for most of developing countries of the Continent. This is an area that needs research and, surely it is very interesting for those students of the economics and actuarial sciences looking for a thesis topic.