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The economic value of fatal and non-fatal occupational risks in Mexico City using actuarial- and perceived-risk estimates

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Author Info

  • James K. Hammitt

    (Harvard University, USA)

  • Mar�a Eugenia Ibarrarán

    (Universidad de las Américas, Puebla, Mexico)

Abstract

Compensating wage differentials are used to estimate marginal rates of substitution between income and both fatal and non-fatal occupational-injury risks in the Mexico City metropolitan area. Data are obtained by in-person survey of almost 600 workers and include workers' perceived risks of fatal and non-fatal occupational injury supplemented by actuarial-risk estimates from government statistics. Results using both actuarial- and perceived-risk estimates are reasonably consistent. Estimates of the value per statistical life are between US$235 000 and US$325 000 and estimates of the value per statistical non-fatal injury are between US$3500 and US$11 000 (2002 US dollars). These values are much smaller than corresponding estimates for higher-income countries but are compatible with the small number of prior estimates for lower-income countries. Copyright © 2006 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/hec.1137
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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

Volume (Year): 15 (2006)
Issue (Month): 12 ()
Pages: 1329-1335

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Handle: RePEc:wly:hlthec:v:15:y:2006:i:12:p:1329-1335

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Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749

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  1. Bowland, Brad J. & Beghin, John C., 2001. "Robust Estimates of Value of a Statistical Life for Developing Economies," Staff General Research Papers 5196, Iowa State University, Department of Economics.
  2. Gerking, Shelby & de Haan, Menno & Schulze, William, 1988. " The Marginal Value of Job Safety: A Contingent Valuation Study," Journal of Risk and Uncertainty, Springer, vol. 1(2), pages 185-99, June.
  3. Shanmugam, K R, 2001. " Self Selection Bias in the Estimates of Compensating Differentials for Job Risks in India," Journal of Risk and Uncertainty, Springer, vol. 22(3), pages 263-75, May.
  4. Viscusi, W Kip & O'Connor, Charles J, 1984. "Adaptive Responses to Chemical Labeling: Are Workers Bayesian Decision Makers?," American Economic Review, American Economic Association, vol. 74(5), pages 942-56, December.
  5. Viscusi, W Kip & Aldy, Joseph E, 2003. " The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," Journal of Risk and Uncertainty, Springer, vol. 27(1), pages 5-76, August.
  6. W. Kip Viscusi, 2004. "The Value of Life: Estimates with Risks by Occupation and Industry," Economic Inquiry, Western Economic Association International, vol. 42(1), pages 29-48, January.
  7. Gerking, S.D. & Haan, M. de & Schulze, W.D., 1988. "The marginal value of job safety: A contingent valuation study," Open Access publications from Tilburg University urn:nbn:nl:ui:12-4742815, Tilburg University.
  8. Liu, Jin-Tan & Hammitt, James K. & Liu, Jin-Long, 1997. "Estimated hedonic wage function and value of life in a developing country," Economics Letters, Elsevier, vol. 57(3), pages 353-358, December.
  9. repec:reg:rpubli:282 is not listed on IDEAS
  10. Gegax, Douglas & Gerking, Shelby & Schulze, William, 1991. "Perceived Risk and the Marginal Value of Safety," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 589-96, November.
  11. Gegax, D. & Gerking, S.D. & Schulze, W.D., 1991. "Perceived risk and the marginal value of safety," Open Access publications from Tilburg University urn:nbn:nl:ui:12-4628495, Tilburg University.
  12. 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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Cited by:
  1. N. Yaduma & M. Kortelainen & A. Wossink, 2012. "Estimating Mortality and Economic Costs of Particulate Air Pollution in Developing Countries: The Case of Nigeria," The School of Economics Discussion Paper Series 1223, Economics, The University of Manchester.

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