Abstract
Wage hedonic models are estimated with the Health and Retirement Study to measure the risk-wage tradeoffs (value of statistical lives) for older workers. The analysis explicitly allows for multiple employment states, including retirement, using a multinomial selection model. The results suggest that the oldest and most risk-averse workers require significantly higher, not lower, compensation to accept increases in job-related fatality risks.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 423-429 |
| Number of pages | 7 |
| Journal | Review of Economics and Statistics |
| Volume | 86 |
| Issue number | 1 |
| DOIs | |
| State | Published - Feb 2004 |
| Externally published | Yes |
ASJC Scopus subject areas
- Social Sciences (miscellaneous)
- Economics and Econometrics
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