Do the near-elderly value mortality risks differently?

V. Kerry Smith, Mary F. Evans, Hyun Kim, Donald H. Taylor

Research output: Contribution to journalArticle

33 Citations (Scopus)

Abstract

Wage hedonic models are estimated with the Health and Retirement Study to measure the risk-wage tradeoffs (value of statistical lives) for older workers. The analysis explicitly allows for multiple employment states, including retirement, using a multinomial selection model. The results suggest that the oldest and most risk-averse workers require significantly higher, not lower, compensation to accept increases in job-related fatality risks.

Original languageEnglish (US)
Pages (from-to)423-429
Number of pages7
JournalReview of Economics and Statistics
Volume86
Issue number1
DOIs
StatePublished - Feb 2004
Externally publishedYes

Fingerprint

mortality
retirement
multiple employment
wage
worker
Values
health
Wages
Mortality risk
Fatality
Retirement
Older workers
Selection model
Hedonic model
Value of statistical life
Risk-averse
Trade-offs
Workers
Health and Retirement Study

ASJC Scopus subject areas

  • Economics and Econometrics
  • Social Sciences (miscellaneous)

Cite this

Do the near-elderly value mortality risks differently? / Smith, V. Kerry; Evans, Mary F.; Kim, Hyun; Taylor, Donald H.

In: Review of Economics and Statistics, Vol. 86, No. 1, 02.2004, p. 423-429.

Research output: Contribution to journalArticle

Smith, V. Kerry ; Evans, Mary F. ; Kim, Hyun ; Taylor, Donald H. / Do the near-elderly value mortality risks differently?. In: Review of Economics and Statistics. 2004 ; Vol. 86, No. 1. pp. 423-429.
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