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tive and statistically significant for dangerous work. Income statement in the first regression resulted to an annual earnings of $ 375 as an extra for those who engage in dangerous jobs. This amount represents only 5.5% of the worker's average income of $ 6,810. There was also an estimated $ 26 for every percent increase in work-related injuries per million hours worked. The other variables that were included in the regression serves two purposes. First, the variables controlled for a number of job characteristics, and thus reduce bias in job risk variable coefficients. For the other controlled the validity of the theory of compensating differentials (ibid: 413 and 415).

 

Another major approach of this analysis is that the optimal job risk will necessarily be reduced by the employee's wealth, provided that impose certain restrictions on the employee's preferences and job opportunities. To test this used Viscusi (1978) data from 1969 on only men in the age between 45-59. Based on the regression results, the variable assets were estimated statistical significant coefficient with the expected sign. The extent of the effect was quite small, but since these results suggest that the elasticity of the industry's injury rate with respect to the employee's wealth is only -0.011. This finding was probably underestimated the wealth effect since it captures the impact of wealth only on the employee's choice of an industry. One can expect that the wealth effect will be reflected in the individual's occupation. It should be noted that the effect of the direction than the size is of concern since the estimated negative elasticity provides further support for the validity of the aggregate that forms a concept of individual choice (ibid: 415).

 

Analysis of individual choice among hazardous work indicates that the optimal job risk of a worker should be negatively correlated to their wealth, and that workers will require additional premium for hazardous work, this profit rate is originally formulated by Adam Smith. The empirical analyzes formed a good basis to support the conceptual results. The average premium for the dangerous jobs in 1969 was $ 400.

 

This amount is not small with respect to those who have declared their jobs as dangerous. It was also demonstrated that the injury rate is negatively correlated with the employee's assets. The effect was not as great as expected (ibid: 416).

 

Marin and Psacharopoulos (1982)

 

Adam Smith in his famous work 'Wealth of Nation' reported, the employees who work in undesirable jobs in a competitive market should receive additional compensation for such jobs. Marin and Psacharopoulos (1982) have written one of the most influential papers on the estimation of the value of a life based on the labor market in the UK.

 

They try and examine the additional one worker earns in a dangerous job and compare it with本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。