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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
W. Kip Viscusi
394
The dependent variable w
i
is the worker’s hourly wage rate. There is no theoretical
basis for distinguishing between use of a linear or logarithmic form (Rosen, 1974), but
the analysis in Moore and Viscusi (1988a) found that the semi-logarithmic form had
a higher explanatory power than the linear wage equation based on a Box-Cox trans-
formation. The log(wage) specification is the more common approach in the hedonic
wage literature.
7.3.3 Fatality Rate Data Used in Hedonic Wage Models
The ideal measure of the fatality risk is a variable that reflects both worker and firm
assessments of the risk of a particular job. In practice ...
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Publisher Resources

ISBN: 9780444536853