The Estimation of Compensating Wage Differentials: Lessons From the Deadliest Catch
I use longitudinal survey data from commercial fishing deckhands in the Alaskan Bering Sea to provide new insights on empirical methods commonly used to estimate compensating wage differentials and the value of statistical life (VSL). The unique setting exploits intertemporal variation in fatality r...
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ftdatacite:10.6084/m9.figshare.6238979 2023-05-15T15:43:47+02:00 The Estimation of Compensating Wage Differentials: Lessons From the Deadliest Catch Lavetti, Kurt 2018 https://dx.doi.org/10.6084/m9.figshare.6238979 https://tandf.figshare.com/articles/journal_contribution/The_Estimation_of_Compensating_Wage_Differentials_Lessons_from_the_Deadliest_Catch/6238979 unknown Taylor & Francis https://dx.doi.org/10.1080/07350015.2018.1470000 Creative Commons Attribution 4.0 International https://creativecommons.org/licenses/by/4.0/legalcode cc-by-4.0 CC-BY Medicine Genetics FOS Biological sciences Biotechnology Sociology FOS Sociology 19999 Mathematical Sciences not elsewhere classified FOS Mathematics Inorganic Chemistry FOS Chemical sciences Text article-journal Journal contribution ScholarlyArticle 2018 ftdatacite https://doi.org/10.6084/m9.figshare.6238979 https://doi.org/10.1080/07350015.2018.1470000 2021-11-05T12:55:41Z I use longitudinal survey data from commercial fishing deckhands in the Alaskan Bering Sea to provide new insights on empirical methods commonly used to estimate compensating wage differentials and the value of statistical life (VSL). The unique setting exploits intertemporal variation in fatality rates and wages within worker-vessel pairs caused by a combination of weather patterns and policy changes, allowing identification of parameters and biases that it has only been possible to speculate about in more general settings. I show that estimation strategies common in the literature produce biased estimates in this setting, and decompose the bias components due to latent worker, establishment, and job-match heterogeneity. The estimates also remove the confounding effects of endogenous job mobility and dynamic labor market search, narrowing a conceptual gap between search-based hedonic wage theory and its empirical applications. I find that workers’ marginal aversion to fatal risk falls as risk levels rise, which suggests complementarities in the benefits of public safety policies. Supplementary materials for this article are available online. Text Bering Sea DataCite Metadata Store (German National Library of Science and Technology) Bering Sea |
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Medicine Genetics FOS Biological sciences Biotechnology Sociology FOS Sociology 19999 Mathematical Sciences not elsewhere classified FOS Mathematics Inorganic Chemistry FOS Chemical sciences |
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Medicine Genetics FOS Biological sciences Biotechnology Sociology FOS Sociology 19999 Mathematical Sciences not elsewhere classified FOS Mathematics Inorganic Chemistry FOS Chemical sciences Lavetti, Kurt The Estimation of Compensating Wage Differentials: Lessons From the Deadliest Catch |
topic_facet |
Medicine Genetics FOS Biological sciences Biotechnology Sociology FOS Sociology 19999 Mathematical Sciences not elsewhere classified FOS Mathematics Inorganic Chemistry FOS Chemical sciences |
description |
I use longitudinal survey data from commercial fishing deckhands in the Alaskan Bering Sea to provide new insights on empirical methods commonly used to estimate compensating wage differentials and the value of statistical life (VSL). The unique setting exploits intertemporal variation in fatality rates and wages within worker-vessel pairs caused by a combination of weather patterns and policy changes, allowing identification of parameters and biases that it has only been possible to speculate about in more general settings. I show that estimation strategies common in the literature produce biased estimates in this setting, and decompose the bias components due to latent worker, establishment, and job-match heterogeneity. The estimates also remove the confounding effects of endogenous job mobility and dynamic labor market search, narrowing a conceptual gap between search-based hedonic wage theory and its empirical applications. I find that workers’ marginal aversion to fatal risk falls as risk levels rise, which suggests complementarities in the benefits of public safety policies. Supplementary materials for this article are available online. |
format |
Text |
author |
Lavetti, Kurt |
author_facet |
Lavetti, Kurt |
author_sort |
Lavetti, Kurt |
title |
The Estimation of Compensating Wage Differentials: Lessons From the Deadliest Catch |
title_short |
The Estimation of Compensating Wage Differentials: Lessons From the Deadliest Catch |
title_full |
The Estimation of Compensating Wage Differentials: Lessons From the Deadliest Catch |
title_fullStr |
The Estimation of Compensating Wage Differentials: Lessons From the Deadliest Catch |
title_full_unstemmed |
The Estimation of Compensating Wage Differentials: Lessons From the Deadliest Catch |
title_sort |
estimation of compensating wage differentials: lessons from the deadliest catch |
publisher |
Taylor & Francis |
publishDate |
2018 |
url |
https://dx.doi.org/10.6084/m9.figshare.6238979 https://tandf.figshare.com/articles/journal_contribution/The_Estimation_of_Compensating_Wage_Differentials_Lessons_from_the_Deadliest_Catch/6238979 |
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Bering Sea |
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Bering Sea |
genre |
Bering Sea |
genre_facet |
Bering Sea |
op_relation |
https://dx.doi.org/10.1080/07350015.2018.1470000 |
op_rights |
Creative Commons Attribution 4.0 International https://creativecommons.org/licenses/by/4.0/legalcode cc-by-4.0 |
op_rightsnorm |
CC-BY |
op_doi |
https://doi.org/10.6084/m9.figshare.6238979 https://doi.org/10.1080/07350015.2018.1470000 |
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1766377991056654336 |