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dc.contributor.authorSpengler, Hannesen
dc.contributor.authorSchaffner, Sandraen
dc.date.accessioned2007-11-22-
dc.date.accessioned2009-08-06T13:19:01Z-
dc.date.available2009-08-06T13:19:01Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x713en
dc.subject.jelI10en
dc.subject.jelJ17en
dc.subject.jelJ28en
dc.subject.jelK00en
dc.subject.ddc330en
dc.subject.keywordValue of a statistical life (VSL)en
dc.subject.keywordcompensating wage differentialsen
dc.subject.keywordwork accidentsen
dc.subject.keywordjob changesen
dc.subject.stwMenschen
dc.subject.stwBewertungen
dc.subject.stwWert des Lebensen
dc.subject.stwBiasen
dc.subject.stwArbeitsmobilitäten
dc.subject.stwTheorieen
dc.titleUsing job changes to evaluate the bias of the value of a statistical life-
dc.type|aWorking Paperen
dc.identifier.ppn550041141en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp713en

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