𝔖 Bobbio Scriptorium
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The value of job safety for railroad workers

✍ Scribed by Michael T. French; David L. Kendall

Publisher
Springer
Year
1992
Tongue
English
Weight
671 KB
Volume
5
Category
Article
ISSN
0895-5646

No coin nor oath required. For personal study only.

✦ Synopsis

The value of reducing job risk is estimated using a hedonic wage model and a risk variable that is matched by occupation and state of residence. This study is the first to use the hedonic wage approach to estimate the value of safety in a single industry. Industry-specific estimates will help researchers and labor policymakers better understand the distribution of compensating wage differentials across industries. Our estimated value of job safety for railroad workers is between $21,000 and $26,000 (1980 dollars) per statistical disabling injury, which is somewhat larger than the average of values estimated in previous studies that use cross-industry or crossoccupation aggregate risk data.

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