On the measurement of job risk in hedonic wage models

被引:60
作者
Black, DA [1 ]
Kniesner, TJ [1 ]
机构
[1] Syracuse Univ, Ctr Policy Res, Syracuse, NY 13244 USA
关键词
hedonic wage equation; price of risk; implicit value of life; measurement error;
D O I
10.1023/A:1025889125822
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
We examine the incidence, form, and research consequences of measurement error in measures of fatal injury risk in U.S. workplaces using both Bureau of Labor Statistics and National Institute of Occupational Safety and Health data. Of the various measures examined the NIOSH industry risk measure produces implicit value of life estimates most in line with both economic theory and the mode result for the existing literature. Because we find non-classical measurement error that differs across risk measures and is not independent of other regressors, innovative statistical procedures need be applied to obtain statistically improved estimates of wage-fatality risk tradeoffs.
引用
收藏
页码:205 / 220
页数:16
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