A two-stage random-effects estimator for meta-analyses of the value per statistical life.
We developed and examined the performance of a two-stage random-effects meta-analysis estimator for synthesizing published estimates of the value per statistical life (VSL). The meta-estimation approach accommodates unbalanced panels with one or multiple observations from each independent group of p...
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| Format: | Article |
| Language: | English |
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Public Library of Science (PLoS)
2025-01-01
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| Series: | PLoS ONE |
| Online Access: | https://doi.org/10.1371/journal.pone.0324630 |
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| author | Stephen C Newbold Chris Dockins Nathalie Simon Kelly Maguire Abdullah Muhammad Sakib |
| author_facet | Stephen C Newbold Chris Dockins Nathalie Simon Kelly Maguire Abdullah Muhammad Sakib |
| author_sort | Stephen C Newbold |
| collection | DOAJ |
| description | We developed and examined the performance of a two-stage random-effects meta-analysis estimator for synthesizing published estimates of the value per statistical life (VSL). The meta-estimation approach accommodates unbalanced panels with one or multiple observations from each independent group of primary estimates, and distinguishes between sampling and non-sampling sources of error, both within and between groups. We used Monte Carlo simulation experiments to test the performance of the meta-estimator on constructed datasets. Simulation results indicate that, when applied to datasets of modest size, the approach performs best when the within-group non-sampling error variances are assumed to be homogeneous among groups. This allows for two levels of non-sampling errors while preserving degrees of freedom and therefore increasing statistical efficiency. Simulation results also show that the estimator compares favorably to several other commonly used meta-analysis estimators, including other two-stage estimators. As a demonstration, we applied the approach to a pre-existing meta-dataset including 113 VSL estimates assembled from 10 revealed preference and 9 stated preference studies conducted in the U.S. and published between 1999 and 2019. |
| format | Article |
| id | doaj-art-5f5c335fccf94416a9dd01a6d3d547b8 |
| institution | Kabale University |
| issn | 1932-6203 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj-art-5f5c335fccf94416a9dd01a6d3d547b82025-08-20T03:50:07ZengPublic Library of Science (PLoS)PLoS ONE1932-62032025-01-01206e032463010.1371/journal.pone.0324630A two-stage random-effects estimator for meta-analyses of the value per statistical life.Stephen C NewboldChris DockinsNathalie SimonKelly MaguireAbdullah Muhammad SakibWe developed and examined the performance of a two-stage random-effects meta-analysis estimator for synthesizing published estimates of the value per statistical life (VSL). The meta-estimation approach accommodates unbalanced panels with one or multiple observations from each independent group of primary estimates, and distinguishes between sampling and non-sampling sources of error, both within and between groups. We used Monte Carlo simulation experiments to test the performance of the meta-estimator on constructed datasets. Simulation results indicate that, when applied to datasets of modest size, the approach performs best when the within-group non-sampling error variances are assumed to be homogeneous among groups. This allows for two levels of non-sampling errors while preserving degrees of freedom and therefore increasing statistical efficiency. Simulation results also show that the estimator compares favorably to several other commonly used meta-analysis estimators, including other two-stage estimators. As a demonstration, we applied the approach to a pre-existing meta-dataset including 113 VSL estimates assembled from 10 revealed preference and 9 stated preference studies conducted in the U.S. and published between 1999 and 2019.https://doi.org/10.1371/journal.pone.0324630 |
| spellingShingle | Stephen C Newbold Chris Dockins Nathalie Simon Kelly Maguire Abdullah Muhammad Sakib A two-stage random-effects estimator for meta-analyses of the value per statistical life. PLoS ONE |
| title | A two-stage random-effects estimator for meta-analyses of the value per statistical life. |
| title_full | A two-stage random-effects estimator for meta-analyses of the value per statistical life. |
| title_fullStr | A two-stage random-effects estimator for meta-analyses of the value per statistical life. |
| title_full_unstemmed | A two-stage random-effects estimator for meta-analyses of the value per statistical life. |
| title_short | A two-stage random-effects estimator for meta-analyses of the value per statistical life. |
| title_sort | two stage random effects estimator for meta analyses of the value per statistical life |
| url | https://doi.org/10.1371/journal.pone.0324630 |
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