The Value of Job Safety for Railroad Workers

Michael French () and David L Kendall

Journal of Risk and Uncertainty, 1992, vol. 5, issue 2, 175-85

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. The authors' 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. Copyright 1992 by Kluwer Academic Publishers

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:kap:jrisku:v:5:y:1992:i:2:p:175-85

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