On the Measurement of Job Risk in Hedonic Wage Models
AbstractWe examine the incidence, form, and research consequences of measurement error in measures of fatal injury risk in U.S. workplaces using both Bureau of Labor Statistics and National Intitute of Occupational Safety and Health data. Of the various measures examined the NIOSH industry risk measure produces implicit value of life estimates most in line with both economic theory and the mode result for the existing literature. Because we find non-classical measurement error that differs across risk measures and is not independent of other regressors, innovative statistical procedures need be applied to obtain statistically improved estimates of wage-fatality risk tradeoffs. Copyright 2003 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Risk and Uncertainty.
Volume (Year): 27 (2003)
Issue (Month): 3 (December)
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Web page: http://www.springerlink.com/link.asp?id=100299
Other versions of this item:
- Dan A. Black & Thomas J. Kniesner, 2003. "On the Measurement of Job Risk in Hedonic Wage Models," Center for Policy Research Working Papers 49, Center for Policy Research, Maxwell School, Syracuse University.
- Dan A. Black & Thomas K. Kniesner, 2003. "On the Measurement of Job Risk in Hedonic Wage Models," NCEE Working Paper Series 200306, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Aug 2003.
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
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