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VALUE OF LIFE AND INJURY: EVIDENCE FROM A U.S. FISHERY
Author(s) -
Marvasti Akbar
Publication year - 2020
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/coep.12472
Subject(s) - shrimp , value (mathematics) , estimation , sample (material) , economics , econometrics , business , demographic economics , fishery , statistics , mathematics , biology , chemistry , management , chromatography
Here, revealed trade‐offs between monetary rewards and safety risk for shrimp fishermen in the Gulf of Mexico are investigated. Shrimp harvesting is one of the most dangerous occupations in the United States with an occupational fatality rate significantly above the average. The instrumental variables method is employed for estimation of the injuries and fatalities. My estimates of the value of a statistical life and the value of statistical injury, using the sample selection model, are in line with the estimates from other industries and provide useful information for public policy. ( JEL J17 , Q2 , K2 , D2)