The Value of Job Safety for Railroad Workers
AbstractThe value of reducing job risk is estimated using a hedonic wage model and a risk variable that is matched by occupation and state of residence. This study is the first to use the hedonic wage approach to estimate the value of safety in a single industry. Industry-specific estimates will help researchers and labor policymakers better understand the distribution of compensating wage differentials across industries. The authors' estimated value of job safety for railroad workers is between $21,000 and $26,000 (1980 dollars) per statistical disabling injury, which is somewhat larger than the average of values estimated in previous studies that use cross-industry or cross-occupation aggregate risk data. Copyright 1992 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Risk and Uncertainty.
Volume (Year): 5 (1992)
Issue (Month): 2 (May)
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- Georges Dionne & Paul Lanoie, 2002.
"How to Make a Public Choice About the Value of a Statistical Life: The Case of Road Safety,"
Cahiers de recherche
02-04, HEC Montréal, Institut d'économie appliquée.
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- Viscusi, W Kip & Aldy, Joseph E, 2003.
" The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World,"
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Springer, vol. 27(1), pages 5-76, August.
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- Viscusi, W Kip, 1993. "The Value of Risks to Life and Health," Journal of Economic Literature, American Economic Association, vol. 31(4), pages 1912-46, December.
- Georges Dionne & Paul Lanoie, 2004.
"Public Choice about the Value of a Statistical Life for Cost-Benefit Analyses: The Case of Road Safety,"
Journal of Transport Economics and Policy,
London School of Economics and University of Bath, vol. 38(2), pages 247-274, May.
- Dionne, Georges & Lanoie, Paul, 2003. "Public Choice About the Value of a Statistical Life For Cost-Benefit Analyses: The Case of Road Safety," Working paper 140, Regulation2point0.
- S. Madheswaran, 2008. "Measuring the Value of Life and Limb: Estimating Compensating Wage Differentials Among Workers in Chennai and Mumbai," Working Papers id:1708, eSocialSciences.
- K. Shanmugam, 2000. "Valuations of Life and Injury Risks," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 16(4), pages 379-389, August.
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