Unions and Risk: Their Impact on the Level of Compensation for Fatal Risk

Sandy, Robert; Elliott, Robert J.R.

doi:10.2307/2554764

Cited by 81 publications

(41 citation statements)

References 35 publications

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“…14 The two highest VSL estimates are from studies using data from the United Kingdom- Sandy and Elliott (1996), who report a VSL of $57.4 million, and Arabsheibani and Marin (2000), who report a VSL of $32.9 million. The CFOI estimates are more tightly clustered with more moderate levels of precision and less extreme VSL estimates.…”

Section: B F U N N E L P L O T F O R B E S T -S E T S a M P L Ementioning

confidence: 99%

The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life

Viscusi¹

2014

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A B S T R A C T Meta-regression estimates of the value of a statistical life (VSL) controlling for publication selection bias often yield bias-corrected estimates of VSL that are substantially below the mean VSL estimates. Labor market studies using the more recent Census of Fatal Occupational Injuries (CFOI) data are subject to less measurement error and also yield higher bias-corrected estimates than do studies based on earlier fatality rate measures. These results are borne out by the findings for a large sample of all VSL estimates based on labor market studies using CFOI data and for four meta-analysis data sets consisting of the authors' best estimates of VSL. The confidence intervals of the publication bias-corrected estimates of VSL based on the CFOI data include the values that are currently used by government agencies, which are in line with the most precisely estimated values in the literature. K E Y W O R D S :value of a statistical life, VSL, meta-regression, publication selection bias,

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Section: B F U N N E L P L O T F O R B E S T -S E T S a M P L Ementioning

confidence: 99%

The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life

Viscusi¹

2014

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“…One regression result (with a VSL of $63 million) from Sandy and Elliott (1996) implies a compensating differential for mortality risk comprising nearly 20 percent of worker wages. These risk premia are substantially larger than the compensating differentials evident in other developed countries' labor markets, even those countries with higher per capita incomes.…”

Section: The Value Of a Statistical Life Based On Non-us Labor Markmentioning

confidence: 99%

“…In contrast, Siebert and Wei (1994) found higher union risk premiums when accounting for potential endogeneity of risk. Subsequent research by Sandy and Elliott (1996) countered this finding with analysis indicating larger compensating differentials for risk for nonunion members. These four researchers collaborated in a follow-up study, Sandy et al (2001), which concluded with a qualified claim that nonunion workers enjoy greater risk premiums.…”

Section: The Effects Of Union Affiliation On the Value Of A Statisticmentioning

confidence: 99%

The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World

2002

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A substantial literature over the past thirty years has evaluated tradeoffs between money and fatality risks. These values in turn serve as estimates of the value of a statistical life.This article reviews more than 60 studies of mortality risk premiums from ten countries and approximately 40 studies that present estimates of injury risk premiums. This critical review examines a variety of econometric issues, the role of unionization in risk premiums, and the effects of age on the value of a statistical life. Our meta-analysis indicates an income elasticity of the value of a statistical life from about 0.5 to 0.6. The paper also presents a detailed discussion of policy applications of these value of a statistical life estimates and related issues, including risk-risk analysis.

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“…Sandy and Elliott 1996, Daniel and Sofer 1998, Wei 1999, Arabsheibani and Marin 2001. The reason is that more dangerous jobs tend to be chosen by those workers who are less averse to dangers at the workplace.…”

Section: Introductionmentioning

confidence: 99%

Do job disamenities raise wages or ruin job satisfaction?

Böckerman

Ilmakunnas²

2006

International Journal of Manpower

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This study investigates the role of adverse working conditions in the determination of individual wages and overall job satisfaction in the Finnish labour market. The potential influence of adverse working conditions on self-reported fairness of pay at the workplace is considered as an alternative, indirect measure of job satisfaction. The results show that working conditions have a very minor role in the determination of individual wages in the Finnish labour market. In contrast, adverse working conditions substantially increase the level of job dissatisfaction and the perception of unfairness of pay at the workplace. JEL

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Unions and Risk: Their Impact on the Level of Compensation for Fatal Risk

Cited by 81 publications

References 35 publications

The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life

The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life

The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World

Do job disamenities raise wages or ruin job satisfaction?

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