Measuring the value of life and limb : estimating compensating wage differentials among workers in Chennai and Mumbai

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122343.pdf (1.43 MB)

Date

2004

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Publisher

SANDEE, Kathmandu, NP

Abstract

There is extensive literature on the value of a statistical life (VSL) and compensating wage differentials for developed countries, but few studies exist for developing countries. The compensating wage differentials method estimates the wage premium a worker would need to be paid to accept a small increase in his/ her risk of dying. Workers routinely make trade-offs between health risks and economic gains, and these can be identified by studying wages associated with different industries. This study obtains estimates of VSL that reflect Indian risk preferences based on a survey of 550 workers in Chennai and 535 workers in Mumbai.

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Keywords

COMPENSATION, WAGE POLICY, WAGE RATE, LABOUR MARKET, WAGES, WORKERS, INDIA, COMPARATIVE ANALYSIS, POLICY MAKING, STATISTICAL ANALYSIS, ECONOMIC ASPECTS, WORK ENVIRONMENT, SOCIAL IMPLICATIONS, SOUTH ASIA

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URI

http://hdl.handle.net/10625/27173

DOI

Collections

IDRC Research Results / Résultats de recherches du CRDI
2000-2009 / Années 2000-2009
Working Papers / Documents de travail