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Guidance on Treatment of the Economic Value of a Statistical Life
Departmental guidance on valuing reduction of fatalities and injuries by regulations or investments has been published periodically by this office since 1993. We issued a thorough revision of our guidance in 2008 and have issued annual updates to adjust for changes in prices and real incomes since then. Our most recent update, dated July 29, 2011, stated that a new review of the technical literature would be conducted to inform the next publication. The conclusions of that review are incorporated in this guidance.