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Worker Learning and Compensating Differentials
(Industrial and Labor Relations Review, 1991)
In the standard compensating wage differential model, workers value their wage and workers' compensation components based on full job risk information. Market forces generate positive wage differentials as ex ante compensation ...
Utility Functions that Depend on Health Status: Estimates and Economic Implications
(The American Economic Review, 1990)
Taylor's series and logarithmic estimates of health state-dependent utility functions
both imply that job injuries reduce one's utility and marginal utility of income, thus rejecting the monetary loss equivalent formulation. ...