Perceived risk and value of workplace safety in a developing country

Jin-Tan Liu and James Hammitt

Journal of Risk Research, 1999, vol. 2, issue 3, 263-275

Abstract: We examine the relationship between wages and perceived occupational health risks for petrochemical workers in Taiwan. We estimate hedonic wage functions to compare workers' wages to their perceived risks of fatal and disabling accidents. The results indicate that workers in risky jobs receive a compensating wage differential, after controlling for education, job tenure, and occupational classification. The values of mitigating health risks are estimated using models that control for both fatal and nonfatal accident risks, and so do not suffer the omitted-variable bias characteristic of most earlier studies. The estimated values of statistical life and disabling injury are US$624 000 and US$44 000 in 1995 dollars. We also find a positive relationship between quitting intentions and perceived job risk, which supports the hypothesis that workers' risk perceptions evolve with on-the-job experience.

Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

Downloads: (external link)
http://hdl.handle.net/10.1080/136698799376835 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:jriskr:v:2:y:1999:i:3:p:263-275

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RJRR20

DOI: 10.1080/136698799376835

Access Statistics for this article

Journal of Risk Research is currently edited by Bryan MacGregor

More articles in Journal of Risk Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().