Doubling the estimated value of life: Results using new occupational fatality data
Using a new series of data on occupational fatalities compiled by the National Institute for Occupational Safety and Health, the authors reassess value-of-life calculations based on labor market tradeoffs between fatality risks and wages. The new data are less subject to the problems of measurement error that plague previously used measures of risk. They indicate higher risk levels than previously believed and a significantly different composition of risk levels within industries. The more comprehensive risk data yield value-of-life estimates of $5 million or more-at least twice as large as estimates obtained using the Bureau of Labor Statistics risk data employed in previous studies.
Year of publication: |
1987
|
---|---|
Authors: | Moore, Michael J. ; Viscusi, W. Kip |
Published in: |
Journal of Policy Analysis and Management. - John Wiley & Sons, Ltd., ISSN 0276-8739. - Vol. 7.1987, 3, p. 476-490
|
Publisher: |
John Wiley & Sons, Ltd. |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Compensation mechanisms for job risks : wages, workers' compensation, and product liability
Moore, Michael J., (1990)
-
Product liability entering the twenty-first century : the US perspective
Moore, Michael J., (2001)
-
Worker learning and compensating differentials
Viscusi, W. Kip, (1991)
- More ...