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- Title
The Value of Job Safety for Railroad Workers.
- Authors
French, Michael T.; Kendall, David L.
- Abstract
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 cross- occupation aggregate risk data.
- Subjects
INDUSTRIAL safety; RAILROAD construction workers; LABOR policy; LABOR economics; LABOR unions; WAGE differentials
- Publication
Journal of Risk & Uncertainty, 1992, Vol 5, Issue 2, p175
- ISSN
0895-5646
- Publication type
Article
- DOI
10.1007/BF00057570