Value of Statistical Life in India

1. Auflage 2026
ISBN: 978-1-041-03925-9
Verlag: Taylor & Francis Ltd

Buch, Englisch, 240 Seiten, Format (B × H): 156 mm x 234 mm, Gewicht: 515 g

In an era where evidence-based policymaking defines the credibility of governance, Value of Statistical Life in India offers a landmark contribution to the economics of risk, labour welfare, and regulatory design. This ground-breaking volume presents one of the most rigorous empirical estimations of the Value of Statistical Life (VSL) in the Indian context, addressing a critical gap in public policy analytics.

Focusing on occupational risks within India’s manufacturing sector—particularly in Gujarat— the book systematically examines compensating wage differentials (CWD), insurance mechanisms, and Occupational Safety and Health (OSH) frameworks. Through advanced econometric modelling and a global meta-analysis using mixed-effects regression techniques, the authors situate Indian VSL estimates within international standards, aligning domestic policy discourse with practices in developed economies such as the United States.

Transcending descriptive analysis, the book offers a robust analytical foundation for cost–benefit evaluation, regulatory impact assessment, environmental risk governance, and labour protection reforms. By advocating the institutional adoption of VSL as a cornerstone of policy appraisal, it provides a transformative framework for integrating economic valuation into safety and health legislation.

Scholarly, in depth and strategic in relevance, this volume is indispensable for academics, policymakers, multilateral agencies, and regulatory authorities committed to strengthening risk governance and advancing labour welfare in emerging economies.

Zielgruppe

Academic, Postgraduate, and Undergraduate Advanced

Autoren/Hrsg.

Majumder, Agamoni

Madheswaran, S.

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Arbeitsmarkt
• Medizin | Veterinärmedizin Medizin | Public Health | Pharmazie | Zahnmedizin Medizin, Gesundheitswesen Public Health, Gesundheitsmanagement, Gesundheitsökonomie, Gesundheitspolitik
• Wirtschaftswissenschaften Wirtschaftssektoren & Branchen Gesundheitswirtschaft
• Sozialwissenschaften Soziologie | Soziale Arbeit Spezielle Soziologie Stadt- und Regionalsoziologie
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Versicherungswirtschaft
• Interdisziplinäres Wissenschaften Wissenschaften Interdisziplinär Regionalwissenschaften, Regionalstudien
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Unternehmenskultur, Corporate Governance

Inhaltsverzeichnis

List of figures. List of tables. Foreword. Acknowledgements. List of abbreviations 1. Introduction 2. Unpacking the variation in VSL estimates: Insights from Meta-Analysis 3. Occupational Safety and Health in India 4. Measuring the Value of Statistical Life and Injury- Evidence from Gujarat, India. 5. Interplay Amongst Workers’ Compensation Benefit, Wages and VSL estimates 6. Discounting long-term job-related health risks for Indian workers 7. Conclusion. Index.

Über Autor(innen)

Agamoni Majumder is a lecturer in economics at the School of Economics, Adelaide University whose empirical research in applied economics focuses on labour, health, and environmental issues, particularly workplace conditions, occupational and environmental health risks, and their economic implications.

S. Madheswaran is a development economist and econometrician and currently an adviser to Jain University and ICRISAT. Former RBI Chair Professor, Director of ISEC, Vice-Chancellor of GRI, Economic Adviser to Karnataka, and founder of the Karnataka Evaluation Authority, he has published 130 papers and five books with international academic publishers worldwide.