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https://hdl.handle.net/10419/26779
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DC Field | Value | Language |
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dc.contributor.author | Spengler, Hannes | en |
dc.contributor.author | Schaffner, Sandra | en |
dc.date.accessioned | 2007-07-02 | - |
dc.date.accessioned | 2009-08-06T09:01:44Z | - |
dc.date.available | 2009-08-06T09:01:44Z | - |
dc.date.issued | 2007 | - |
dc.identifier.isbn | 978-3-86788-008-4 | en |
dc.identifier.uri | http://hdl.handle.net/10419/26779 | - |
dc.description.abstract | This paper presents a new approach to obtain unbiased estimates of the value of a statistical life (VSL) with labor market data. Investigating job changes,we combine the advantages of recent panel studies, which allow to control for unobserved heterogeneity of workers, and conventional cross-sectional estimations, which primarily exploit the variation of wage and risk between different jobs.We find a VSL of 6.1 million euros from pooled cross-sectional estimation, 1.9 million euros from the static first-differences panel model and 3.5 million euros from the job-changer specification.Thus, ignoring individual heterogeneity causes overestimates of the VSL, whereas identifying the wage-risk tradeoff not only by means of between job variation (job-changer model) but also on the basis of noisy variation on the job (panel models) may lead to underestimates of the VSL. Our results can be used to perform cost-benefit analyses of public projects aimed at reducing fatality risks, e.g., in the domains of health, environmental or traffic policy. | en |
dc.language.iso | eng | en |
dc.publisher | |aRheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI) |cEssen | en |
dc.relation.ispartofseries | |aRuhr Economic Papers |x14 | en |
dc.subject.jel | I10 | en |
dc.subject.jel | J17 | en |
dc.subject.jel | J28 | en |
dc.subject.jel | K00 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Value of a statistical life (VSL) | en |
dc.subject.keyword | compensating wage differentials | en |
dc.subject.keyword | work accidents | en |
dc.subject.keyword | job changes | en |
dc.subject.stw | Mensch | en |
dc.subject.stw | Bewertung | en |
dc.subject.stw | Wert des Lebens | en |
dc.subject.stw | Bias | en |
dc.subject.stw | Arbeitsmobilität | en |
dc.subject.stw | Theorie | en |
dc.title | Using Job Changes to Evaluate the Bias of the Value of a Statistical Life | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 534684580 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:rwirep:14 | en |
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