Do the Near-Elderly Value Mortality Risks Differently?
Document Type
Article
Department
Economics (CMC)
Publication Date
2004
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
Rights Information
© 2004 President and Fellows of Harvard College and the Massachusetts Institute of Technology
Terms of Use & License Information
DOI
10.1162/003465304774201842
Recommended Citation
Smith, V. Kerry, Mary F. Evans, Hyun Kim, and Donald H. Taylor, Jr., Do the “Near” Elderly Value Mortality Risks Differently?, Review of Economics and Statistics 86(1): 423-429, 2004.
