This paper reports the first study of compensating wage differentials for work-related fatalities in a developing country. Using data from the 1982-1986 Taiwan labor surveys, statistically significant compensating wage differentials are found. The implied value of life is US$413 000 (corrected for selectivity bias) and US$461 000 (uncorrected) in 1990 dollars.
- Compensating wage differentials
- Value of life