The implicit value of life in the labor market in Taiwan

Li-Min Hsueh and Su-Wan Wang

No 260344, Discussion Papers from Chung-Hua Institution for Economic Research

Abstract: By using a hedonic wage equation, this study estimats the implicit value of life for the labor market in Taiwan. The data were obtained from the Taiwan Area Labor Force Survey of 1984, from which two samples, the main and the sub, were drawn. The value of life was found to range from NT$21-34 million which, relatively speaking, is no less than that obtained from the U.S. studies. The estimated risk premium was found to be higher for any level of job risk in the case of the sub-sample . This may be due to this group of workers' perceived job risk being higher than the actual risk, hence their asking for and receiving a higher wage compensation.

Keywords: Labor and Human Capital; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 20
Date: 1988-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:ags:cierdp:260344

DOI: 10.22004/ag.econ.260344

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