Arbeitspapier
Willingness to accept equals willingness to pay for labor market estimates of the value of statistical life
Our research clarifies the conceptual linkages among willingness to pay for additional safety, willingness to accept less safety, and the value of statistical life (VSL). We present econometric estimates that in the important case of workers' decisions concerning exposure to fatal injury risk there is no statistically significant divergence between willingness to accept and willingness to pay. Our focal result contrasts with the literature documenting a considerable asymmetry in tradeoff rates for increases and decreases in risk. An important implication for policy is that it is reasonable to use labor market estimates of VSL as a measure of the willingness to pay for additional safety.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 6816
- Klassifikation
-
Wirtschaft
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
Health: General
Value of Life; Forgone Income
Safety; Job Satisfaction; Related Public Policy
Law and Economics: General
- Thema
-
willingness to pay
willingness to accept
value of statistical life
VSL
CFOI
panel data
PSID
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kniesner, Thomas J.
Viscusi, W. Kip
Ziliak, James Patrick
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kniesner, Thomas J.
- Viscusi, W. Kip
- Ziliak, James Patrick
- Institute for the Study of Labor (IZA)
Entstanden
- 2012
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