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- Publisher
- Wiley
- Copyright
- Copyright © 2001 Wiley Subscription Services, Inc., A Wiley Company
- ISSN
- 0008-4085
- eISSN
- 1540-5982
- DOI
- 10.1111/0008-4085.00079
- Publisher site
- See Article on Publisher Site
Abstract
Three alternative models of compensating wage premiums for risk are estimated: the conventional OLS wage regression; an endogenous risk model that accounts for the simultaneity that may occur if workers of high potential earnings prefer safer jobs; and a self‐selection model to account for the possibility that workers sort into jobs based on unobserved tolerance for risk that affects their productivity in dangerous work environments. The results suggest that the existing Canadian estimates, which have been based on the basic model, may seriously underestimate the wage premium for risk and hence the implied cost of fatal and non‐fatal injuries. JEL Classification: J28, J31
Journal
Canadian Journal of Economics/Revue Canadienne D'économique – Wiley
Published: May 1, 2001