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Deutsches Institut für Wirtschaftsforschung (DIW), Berlin >
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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/27237
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Spengler, Hannes | | en_US |
| dc.contributor.author | | Schaffner, Sandra | | en_US |
| dc.date.accessioned | | 2007-11-22 | | en_US |
| dc.date.accessioned | | 2009-08-06T13:19:01Z | | - |
| dc.date.available | | 2009-08-06T13:19:01Z | | - |
| dc.date.issued | | 2007 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/27237 | | - |
| 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_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Deutsches Institut für Wirtschaftsforschung (DIW) Berlin | | en_US |
| dc.relation.ispartofseries | | Discussion papers // German Institute for Economic Research 713 | | en_US |
| dc.subject.jel | | I10 | | en_US |
| dc.subject.jel | | J17 | | en_US |
| dc.subject.jel | | J28 | | en_US |
| dc.subject.jel | | K00 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Value of a statistical life (VSL) | | en_US |
| dc.subject.keyword | | compensating wage differentials | | en_US |
| dc.subject.keyword | | work accidents | | en_US |
| dc.subject.keyword | | job changes | | en_US |
| dc.subject.stw | | Mensch | | en_US |
| dc.subject.stw | | Bewertung | | en_US |
| dc.subject.stw | | Wert des Lebens | | en_US |
| dc.subject.stw | | Bias | | en_US |
| dc.subject.stw | | Arbeitsmobilität | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Using job changes to evaluate the bias of the value of a statistical life | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 550041141 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des DIW DIW-Diskussionspapiere
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