On the Measurement of Job Risk in Hedonic Wage Models

Dan Black and Thomas Kniesner

No 49, Center for Policy Research Working Papers from Center for Policy Research, Maxwell School, Syracuse University

Abstract: March 2003 (Revised from January 2003). We examine the incidence, form, and research consequences of measurement error in measure of fatal injury risk in U.S. workplaces using both BLS and NIOSH data. We find evidence of substantial measurement errors in the fatality risk researchers attach to individual workers when estimating the implicit price of risk and the value of a statistical life. We first examine possible classical attenuation bias in the fatality risk coefficient. However, because we also find non-classical measurement error that differs across multiple risk measures and is not independent of other regressors, more complex statistical procedures than a standard instrumental variables estimator need be applied to obtain statistically improved estimates of wage-fatality risk tradeoffs.

JEL-codes: J31 (search for similar items in EconPapers)
Date: 2003-03
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Citations: View citations in EconPapers (74)

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Related works:
Journal Article: On the Measurement of Job Risk in Hedonic Wage Models (2003)
Working Paper: On the Measurement of Job Risk in Hedonic Wage Models (2003)
Working Paper: On the Measurement of Job Risk in Hedonic Wage Models (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:max:cprwps:49

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