The marginal value of job safety: A contingent valuation study
- Cite this article as:
- Gerking, S., De Haan, M. & Schulze, W. J Risk Uncertainty (1988) 1: 185. doi:10.1007/BF00056167
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This article estimates the marginal value of safety based on contingent values obtained in a labor-market-oriented national random-sample mail survey. Thus, worker preferences for safety are assessed directly, in contrast to the hedonic price method that has been used almost exclusively in related studies. Key aspects of this article are that (1) contingent values are obtained for small changes in risks of job-related fatal accidentsperceived by respondents, and (2) relationships are analyzed between respondents' marginal safety values and their income, socioeconomic/demographic characteristics, union membership status, and initial levels of risk faced.