Valuing life and limb : understanding the risk-return trade-off
Date
2005
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Publisher
SANDEE, Kathmandu, NP
Abstract
Across the developing world improvements in public health and environmental safety are becoming an ever-greater priority. One way to understand how the public values improvements in health is by assessing what individuals are willing to pay or forgo for small decreases in risks that may affect their longevity. For example, workers frequently make decisions that trade-off increased work-place risk and higher wages. This estimate of the financial gain required to take on increased risks can be used to assess public policies that seek to decrease the risk of death from environmental factors such as air pollution.
Description
This policy brief is based on SANDEE working paper no. 9-04, "Measuring the value of life and limb : estimating compensating wage differentials among workers in Chennai and Mumbai"
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Policy Brief
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Keywords
SURVEYS, INDUSTRIAL WORKERS, ATTITUDES, OCCUPATIONAL ACCIDENTS, OCCUPATIONAL MORTALITY, COMPENSATORY FINANCING, WAGE INCENTIVES, INDIA