Do the near-elderly value mortality risks differently?

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

Research output: Contribution to journalArticlepeer-review

40 Scopus citations


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
Issue number1
StatePublished - Feb 2004
Externally publishedYes

ASJC Scopus subject areas

  • Social Sciences (miscellaneous)
  • Economics and Econometrics


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