The value of job safety for railroad workers

Michael T. French; David L. Kendall

doi:10.1007/BF00057570

The value of job safety for railroad workers

Michael T. French, David L. Kendall

Research output: Contribution to journal › Article › peer-review

7 Scopus citations

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. Our 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 crossoccupation aggregate risk data.

Original language	English (US)
Pages (from-to)	175-185
Number of pages	11
Journal	Journal of Risk and Uncertainty
Volume	5
Issue number	2
DOIs	https://doi.org/10.1007/BF00057570
State	Published - May 1 1992
Externally published	Yes

Keywords

railroad industry
value of safety
willingness to pay
workplace injuries

ASJC Scopus subject areas

Accounting
Finance
Economics and Econometrics

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The value of job safety for railroad workers

Abstract

Keywords

ASJC Scopus subject areas

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