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dc.contributor.authorSpengler, Hannesen_US
dc.contributor.authorSchaffner, Sandraen_US
dc.date.accessioned2007-11-22en_US
dc.date.accessioned2009-08-06T13:19:01Z-
dc.date.available2009-08-06T13:19:01Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/27237-
dc.description.abstractThis 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.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion papers // German Institute for Economic Research 713en_US
dc.subject.jelI10en_US
dc.subject.jelJ17en_US
dc.subject.jelJ28en_US
dc.subject.jelK00en_US
dc.subject.ddc330en_US
dc.subject.keywordValue of a statistical life (VSL)en_US
dc.subject.keywordcompensating wage differentialsen_US
dc.subject.keywordwork accidentsen_US
dc.subject.keywordjob changesen_US
dc.subject.stwMenschen_US
dc.subject.stwBewertungen_US
dc.subject.stwWert des Lebensen_US
dc.subject.stwBiasen_US
dc.subject.stwArbeitsmobilitäten_US
dc.subject.stwTheorieen_US
dc.titleUsing job changes to evaluate the bias of the value of a statistical lifeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn550041141en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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