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The Fatality and Injury Costs of Expenditures

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  • Viscusi, W Kip
  • Zeckhauser, Richard J

Abstract

All production activities generate health risks to workers. This article employs input-output analysis in conjunction with job-risk data by industry to construct measures of the direct and indirect risks imposed by expenditures. Both fatalities and nonfatal injuries (which include illnesses) are considered. The occupational-risk component of expenditures is generally in the range of 3-4% of costs, with nonfatal injuries contributing the larger share. Expenditure levels that generate a fatality or a lost-workday injury are provided by industry, as are a variety of other measures that consider both created and avoided risks pertinent to risk-risk analyses and cost-effectiveness analyses, respectively. Copyright 1994 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Journal of Risk and Uncertainty.

Volume (Year): 8 (1994)
Issue (Month): 1 (January)
Pages: 19-41

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Handle: RePEc:kap:jrisku:v:8:y:1994:i:1:p:19-41

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Web page: http://www.springerlink.com/link.asp?id=100299

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Cited by:
  1. W. Kip Viscusi & Joseph E. Aldy, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," NBER Working Papers 9487, National Bureau of Economic Research, Inc.
  2. Marija Bockarjova & Piet Rietveld & Erik T. Verhoef, 2012. "Composite Valuation of Immaterial Damage in Flooding: Value of Statistical Life, Value of Statistical Evacuation and Value of Statistical Injury," Tinbergen Institute Discussion Papers 12-047/3, Tinbergen Institute.

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