| dc.description.abstract | The value of statistical life has become an important indicator to measure the risk of death and formulate policies in each country.Thus, it can be known that the estimation of the value of life will play an important role in the Cost-Benefit Analysis. Therefore, the paper will use the Labor Force Survey Data and work-related fatality statistics data by industry from 2014 to 2018 to explore the value of statistical life and age group-specific VSLs in Taiwan.
The study is based on the hedonic wage model and uses the mortality by each industry to measure the risk. Though the OLS method to estimate wage-job mortality risk relationship and calculate the value of life to explore the variation of age-VSL. In addition, this paper also distinguishes samples by different company sizes to explore whether the job-related risk variable will be closely related to wages.
From the empirical results, the value of life will increase with age in the merger year. This result is similar with Viscusi and Aldy (2007a), Smith et al. (2004) and Li, Wen-Zhu (2010). In addition,using data from companies with less than 50 employees, it can be concluded that job-related mortality risk has a positive effect on wages and it′s statistically significant. If the estimation is based on the sample of companies with 50 or more employees, it will have biased estimate and contrary to the expectation. Therefore, the empirical results presented in this paper will be slightly inconsistent with Naomi (2011). | en_US |