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Worker Preferences and Market Compensation for Job Risk

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Author Info
Biddle, Jeff E
Zarkin, Gary A

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Abstract

Workers choose a job and receive in return a bundle consisting of income and a probability of job injury. The authors view this income- job-risk bundle chosen by the worker as being exchanged in an implici t market. By jointly estimating the market income-job-risk locus and the optimum conditions for utility maximization, they are able to identif y the market locus and parameters of the workers' utility function. In contrast to previous work, the authors are able to derive valuations of discrete changes in job risk for each individual in the sample. They present evidence that an increase in nonlabor income leads workers to select safer jobs. Copyright 1988 by MIT Press.

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Publisher Info
Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 70 (1988)
Issue (Month): 4 (November)
Pages: 660-67
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Handle: RePEc:tpr:restat:v:70:y:1988:i:4:p:660-67

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  1. Anne Beeson Royalty, . "A Discrete Choice Approach to Estimating Workers' Marginal Valuation of Fringe Benefits," Working Papers 98008, Stanford University, Department of Economics. [Downloadable!]
  2. 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. [Downloadable!]
    Other versions:
  3. G. Arabsheibani & A. Marin, 2000. "Stability of Estimates of the Compensation for Danger," Journal of Risk and Uncertainty, Springer, vol. 20(3), pages 247-269, May. [Downloadable!] (restricted)
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  4. Beat Hintermann & Anna Alberini & Anil Markandya, 2006. "Estimating the Value of Safety with Labor Market Data: Are the Results Trustworthy?," Working Papers 2006.119, Fondazione Eni Enrico Mattei. [Downloadable!]
  5. Hung-Lin Tao, 2004. "The compensating wage differentials for a career at sea - an empirical study of Taiwan," Applied Economics Letters, Taylor and Francis Journals, vol. 11(4), pages 241-244, March. [Downloadable!] (restricted)
  6. Edward Montgomery & Kathryn Shaw, 1992. "Pensions and Wage Premia," NBER Working Papers 3985, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  7. Daniel S. Hamermesh, 1998. "Changing Inequality in Markets for Workplace Amenities," NBER Working Papers 6515, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  8. Xiangdong Wei, 2007. "Wage compensation for job-related illness: Evidence from a matched employer and employee survey in the UK," Journal of Risk and Uncertainty, Springer, vol. 34(1), pages 85-98, February. [Downloadable!] (restricted)
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