Estimating the value of safety with labour market data: are the results trustworthy?

References

• Alberini , A , Cropper , ML , Krupnick , A and Simon , N . 2004 . Does the value of a statistical life vary with age and health status? Evidence from the U.S. and Canada . Journal of Environmental Economics and Management , 48 : 769 – 92 .
   Web of Science ®Google Scholar
• Andersson , H . 2005 . The value of safety as revealed in the Swedish car market: an application of the hedonic pricing approach . Journal of Risk and Uncertainty , 30 : 211 – 39 .
   Web of Science ®Google Scholar
• Arabsheibani , GR and Marin , A . 2000 . Stability of estimates of the compensation for danger . Journal of Risk and Uncertainty , 20 : 247 – 69 .
   Web of Science ®Google Scholar
• Arabsheibani , GR and Marin , A . 2001 . Self-selectivity bias with a continuous variable: potential pitfall in a common procedure . Applied Economics , 33 : 1903 – 10 .
   Web of Science ®Google Scholar
• Ashenfelter , O and Greenstone , M . 2004 . Using mandated speed limits to measure the value of a statistical life . Journal of Political Economy , 112 : S226 – 67 . Part 2 Supplement
   Web of Science ®Google Scholar
• Atkinson , SE and Halvorsen , R . 1990 . Evaluation of risks to life: evidence from the market for automobiles . Review of Economics and Statistics , 72 : 133 – 6 .
   Web of Science ®Google Scholar
• Baranzini , A and Ferro Luzzi , G . 2001 . The economic value of risks to life: evidence from the Swiss labour market . Swiss Journal of Economics and Statistics , 137 : 149 – 70 .
   Google Scholar
• Barone , A and Nese , A . 2002 . Main characteristics of night work in Italy . Studi Economici , 57 : 69 – 98 .
   Google Scholar
• Bhalotra , S . 2006 . Near rationality in wage setting . Applied Economics , 38 : 2513 – 21 .
   Web of Science ®Google Scholar
• Biddle , JE and Zarkin , GA . 1988 . Worker preferences and market compensation for job risk . Review of Economics and Statistics , 70 : 660 – 7 .
   Web of Science ®Google Scholar
• Black , DA , Galdo , J and Liqun , L . 2003 . How robust are hedonic wage estimates of the price of risk? . Final Report to the USEPA , June : R 82943001
   Google Scholar
• Black , DA and Kniesner , TJ . 2003 . On the measurement of job risk in hedonic wage models . Journal of Risk and Uncertainty , 27 : 205 – 20 .
   Web of Science ®Google Scholar
• Blomquist , GC . 1979 . Value of life saving: implication of consumption activity . Journal of Political Economy , 87 : 540 – 58 .
   Web of Science ®Google Scholar
• Blomquist , GC . 2004 . Self-protection and averting behavior, values of statistical life, and benefit cost analysis of environmental policy . Review of Economics of the Household , 2 : 89 – 110 .
   Google Scholar
• Bound , J , Brown , C and Mathiwetz , N . 2001 . “ Measurement error in survey data ” . In Handbook of Econometrics , Edited by: Deckman , J and Learner , E . Vol. 5 , 3705 – 843 . Amsterdam : Elsevier Science, B.V. .
   Google Scholar
• Bound , J and Krueger , AB . 1991 . The extent of measurement error in longitudinal earnings data: do two wrongs make a right? . Journal of Labour Economics , 9 : 1 – 24 .
   Web of Science ®Google Scholar
• Costa , DL and Kahn , ME . 2004 . Changes in the value of life, 1940–1980 . Journal of Risk and Uncertainty , 29 : 159 – 80 .
   Web of Science ®Google Scholar
• CSERGE . Benefits transfer and the economic valuation of environmental damage in the European Union with special reference to health, CSERGE (Centre for Social and Economic Research on the Global Environment), IOS-NLH, IVM, CAS and DAE-UoV ,
   Google Scholar
• Dillingham , AE , Miller , T and Levy , DT . 1996 . A more general and unified measure for valuing labour market risk . Applied Economics , 28 : 537 – 42 .
   Web of Science ®Google Scholar
• Dorman , P and Hagstrom , P . 1998 . Wage compensation for dangerous work revisited . Industrial and Labour Relations Review , 52 : 116 – 35 .
   Web of Science ®Google Scholar
• Erdil , E and Yetkiner , IH . 2001 . A comparative analysis of inter-industry wage differentials: industrialized versus developing countries . Applied Economics , 33 : 1639 – 48 .
   Web of Science ®Google Scholar
• Garen , J . 1984 . The returns to schooling: a selectivity bias approach with a continuous choice variable . Econometrica , 52 : 1199 – 218 .
   Web of Science ®Google Scholar
• Garen , J . 1988 . Compensating wage differentials and the endogeneity of job riskiness . Review of Economics and Statistics , 70 : 9 – 16 .
   Web of Science ®Google Scholar
• Goux , D and Maurin , E . 1999 . Persistence of interindustry wage differentials: a reexamination using matched worker-firm panel data . Journal of Labour Economics , 17 : 492 – 533 .
   Web of Science ®Google Scholar
• Griliches , Z and Hausman , JA . 1984 . Errors in variables in panel data , NBER Technical Paper Series No. 37 Cambridge, MA
   Google Scholar
• Hausman , JA and Taylor , WE . 1981 . Panel data and unobservable individual effects . Econometrica , 49 : 1377 – 98 .
   Web of Science ®Google Scholar
• Hsiao , C . 2003 . Analysis of Panel Data , 2nd , Cambridge, UK : Cambridge University Press .
   Google Scholar
• Hsu , P-F . 2005 . Inter-industry wage premiums and industry-specific productivity in Taiwan . Applied Economics , 37 : 1523 – 33 .
   Web of Science ®Google Scholar
• Jenkins , RR , Owens , N and Wiggins , LB . 2001 . Valuing reduced risks to children: the case of bicycle safety helmets . Contemporary Economic Policy , 19 : 397 – 408 .
   Web of Science ®Google Scholar
• Johannesson , M , Johansson , P-O and Lofgren , K-G . 1997 . On the value of changes in life expectancies: blips versus parametric changes . Journal of Risk and Uncertainty , 15 : 221 – 39 .
   Web of Science ®Google Scholar
• Jones-Lee , MW , Hammerton , WM and Philips , PR . 1985 . The value of safety: results of a national sample survey . Economic Journal , 95 : 49 – 72 .
   Web of Science ®Google Scholar
• Keane , MP . 1993 . Individual heterogeneity and interindustry wage differentials . Journal of Human Resources , 28 : 134 – 61 .
   Web of Science ®Google Scholar
• Kim , B and Solon , G . 2005 . Implications of mean-reverting measurement error for longitudinal studies of wages and employment . The Review of Economics and Statistics , 87 : 193 – 6 .
   Web of Science ®Google Scholar
• Kniesner , TJ , Viscusi , WK , Woock , C and Ziliak , JP . 2006 . Pinning down the value of a statistical life , Center for Policy Research Paper No. 85 Syracuse, NY : Maxwell School of Citizenship and Public Affairs, Syracuse University .
   Google Scholar
• Krueger , AB and Summers , LH . 1988 . Efficiency wages and the inter-industry wage structure . Econometrica , 56 : 259 – 93 .
   Web of Science ®Google Scholar
• Leigh , JP . 1995 . Compensating wages, value of a statistical life, and inter-industry differentials . Journal of Environmental Economics and Management , 28 : 83 – 97 .
   Web of Science ®Google Scholar
• Lucifora , C . 1993 . Inter industry and occupational wage differentials in Italy . Applied Economics , 25 : 1113 – 24 .
   Web of Science ®Google Scholar
• Meng , R and Smith , DA . 1999 . The impact of workers’ compensation on wage premiums for job hazards . Applied Economics , 31 : 1101 – 08 .
   Web of Science ®Google Scholar
• Miller , TR . 2000 . Variations between countries in values of statistical life . Journal of Transport Economics and Policy , 34 : 169 – 88 .
   Web of Science ®Google Scholar
• Moore , MJ and Viscusi , WK . 1990a . Models for estimating discount rates for long-term health risks using labour market data . Journal of Risk and Uncertainty , 3 : 381 – 401 .
   Web of Science ®Google Scholar
• Moore , MJ and Viscusi , WK . 1990b . Compensating Mechanisms for Job Risks , Princeton, NJ : Princeton University Press .
   Google Scholar
• Mrozek , JR and Taylor , LO . 2002 . What determines the value of life? A meta-analysis . Journal of Policy Analysis and Management , 21 : 253 – 70 .
   Web of Science ®Google Scholar
• Neal , D . 1995 . Industry-specific human capital: evidence from displaced workers . Journal of Labour Economics , 13 : 653 – 77 .
   Web of Science ®Google Scholar
• Palme , MO and Wright , RE . 1992 . Gender discrimination and compensating differentials in Sweden . Applied Economics , 24 : 751 – 9 .
   Web of Science ®Google Scholar
• Portney , PR . 1981 . Housing prices, health effects and valuing reductions in risk of death . Journal of Environmental Economics and Management , 8 : 72 – 8 .
   Web of Science ®Google Scholar
• Sakellariou , C . 2004 . The use of quantile regressions in estimating gender wage differentials: a case study of the Philippines . Applied Economics , 36 : 1001 – 7 .
   Web of Science ®Google Scholar
• Sandy , R and Elliott , F . 1996 . Unions and risk: their impact on the level of compensation for fatal risk . Economica , 63 : 291 – 309 .
   Web of Science ®Google Scholar
• Sandy , R . 2001 . Measurement error and the effects of unions on the compensating differentials for fatal workplace risks . Journal of Risk and Uncertainty , 23 : 33 – 56 .
   Web of Science ®Google Scholar
• Shogren , JF and Stamland , T . 2002 . Skill and the value of life . Journal of Political Economy , 110 : 1168 – 73 .
   Web of Science ®Google Scholar
• Siebert , WS and Wei , X . 1994 . Compensating wage differentials for workplace accidents: evidence for union and nonunion workers in the UK . Journal of Risk and Uncertainty , 9 : 61 – 76 .
   Web of Science ®Google Scholar
• Tang , K and Tseng , Y . 2004 . Industry-specific human capital, knowledge labour, and industry wage structure in Taiwan . Applied Economics , 36 : 155 – 65 .
   Web of Science ®Google Scholar
• Tsuge , T , Kishimoto , A and Takeuchi , K . 2005 . A choice experiment approach to the valuation of mortality . Journal of Risk and Uncertainty , 31 : 73 – 95 .
   Web of Science ®Google Scholar
• Vainiomäki , J and Laaksonen , S . 1995 . Inter-industry wage differentials in Finland: evidence from longitudinal census data for 1975–85 . Labour Economics , 2 : 161 – 73 .
   Google Scholar
• Viscusi , WK . 1993 . The value of risks to life and health . Journal of Economic Literature , 31 : 1912 – 46 .
   Web of Science ®Google Scholar
• Viscusi , W. Kip . 2003 . Racial differences in labor market values of a statistical life . Journal of Risk and Uncertainty , 27 : 239 – 56 .
   Web of Science ®Google Scholar
• Viscusi , WK . 2004 . The value of life: estimates with risks by occupation and industry . Economic Inquiry , 42 : 29 – 48 .
   Web of Science ®Google Scholar
• Viscusi , WK and Aldy , JE . 2003 . The value of a statistical life: a critical review of market estimates throughout the world . Journal of Risk and Uncertainty , 27 : 5 – 76 .
   Web of Science ®Google Scholar
• Viscusi , WK and Aldy , JE . 2007 . Labour market estimates of the senior discount for the value of a statistical life . Journal of Environmental Economics and Management , 53 : 377 – 92 .
   Web of Science ®Google Scholar
• Viscusi , WK and Hersch , J . 2001 . Cigarette smokers as job risk takers . Review of Economics and Statistics , 83 : 269 – 80 .
   Web of Science ®Google Scholar
• Wei , X . 1999 . Estimating British workers’ demand for safety . Applied Economics , 31 : 1265 – 71 .
   Web of Science ®Google Scholar
• Weinberg , BA . 2001 . Long-term wage fluctuations with industry-specific human capital . Journal of Labour Economics , 19 : 231 – 64 .
   Web of Science ®Google Scholar
• Wooldridge , JM . 2002 . Econometric Analysis of Cross Section and Panel Data , Cambridge, MA : MIT Press .
   Google Scholar