title: The economic value of fatal and non-fatal occupational risks in Mexico City using actuarial- and perceived-risk estimates.
abstract: Compensating wage differentials are used to estimate marginal rates of substitution between income and both fatal and non-fatal occupational-injury risks in the Mexico City metropolitan area. Data are obtained by in-person survey of almost 600 workers and include workers' perceived risks of fatal and non-fatal occupational injury supplemented by actuarial-risk estimates from government statistics. Results using both actuarial- and perceived-risk estimates are reasonably consistent. Estimates of the value per statistical life are between 235,000 US dollars and 325,000 US dollars and estimates of the value per statistical non-fatal injury are between 3500 US dollars and 11,000 US dollars (2002 US dollars). These values are much smaller than corresponding estimates for higher-income countries but are compatible with the small number of prior estimates for lower-income countries.
authors.affiliation: Harvard Center for Risk Analysis, Harvard University, 718 Huntington Avenue, Boston, MA 02115-5924, USA. jkh@harvard.edu
authors.forename: James K
authors.initials: JK
authors.lastname: Hammitt
authors.forename: María Eugenia
authors.initials: ME
authors.lastname: Ibarrarán
mesh_terms: D000206:Actuarial Analysis; D003625:Data Collection; D015386:Hazardous Substances; D006801:Humans; D008800:Mexico; D017059:Models, Econometric; D016273:Occupational Exposure; D018570:Risk Assessment; D014505:Urban Population
chemical_list: D015386:Hazardous Substances