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Michael J. Moore | W. Kip Viscusi

Compensation Mechanisms for Job Risks

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A01=Michael J. Moore
A01=W. Kip Viscusi
Ability To Pay
Actuarial Valuation
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Author_Michael J. Moore
Author_W. Kip Viscusi
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Bargaining problem
Bureau of Labor Statistics
Category1=Non-Fiction
Category=KCF
Category=LNH
Compensating differential
COP=United States
Cost curve
Cost reduction
Cost-effectiveness analysis
Cost–benefit analysis
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Discounts and allowances
Dummy variable (statistics)
Economic forces
Economic rent
Economics
Employment
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Estimation
Expected value
Implicit cost
Income
Income elasticity of demand
Income Risk
Indemnity
Inflation
Insurance
Job security
Labour economics
Labour supply
Language_English
Marginal product
Marginal utility
Marginal value
Market mechanism
Market rate
Market value
Moral hazard
National Council on Compensation Insurance
Occupational fatality
Option value (cost–benefit analysis)
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Payment
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Price_€50 to €100
Probability
Product liability
Production function
PS=Active
Quantity adjustment
Real versus nominal value (economics)
Replacement Rate
Risk assessment
Risk aversion
Risk compensation
Risk management
Risk perception
Risk premium
Social insurance
softlaunch
Statistical significance
Subrogation
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Supplementary Benefit
Supply (economics)
Tax
Time preference
Total cost
Trade union
Trade-off
Unemployment
Unemployment benefits
Utility
Value of life
Wage
Welfare
Willingness to pay
Workers' compensation

Product details

  • ISBN 9780691630229
  • Weight: 454g
  • Dimensions: 152 x 229mm
  • Publication Date: 19 Apr 2016
  • Publisher: Princeton University Press
  • Publication City/Country: US
  • Product Form: Hardback
  • Language: English
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Description
In this major new work, Michael J. Moore and W. Kip Viscusi explore the question, "How are workers compensated for exposing themselves to the risk of physical injury while on the job?" The authors detail the diverse nature of labor market responses to job risks and the important role played by compensation-for-risk mechanisms. Following an overview of the literature, they present a number of unprecedented results. Comprehensive and systematic discussions of issues such as wage-risk tradeoffs, the effects of workers' compensation on wages and risk, the role of unions, and the role of product liability suits in job-related injuries make the volume an essential work for all those interested in risk policy and workplace safety. Among the major results presented for the first time are the first estimates of the value of life derived from recently released occupational fatality risk data from the National Traumatic Occupational Fatality Survey. From these same data the authors also demonstrate that higher workers' compensation benefit levels significantly reduce fatalities on the job--a finding that challenges virtually every other treatment of this topic. Originally published in 1990. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.