7.3 Hedonic Wage Method(1) - Hedonic Wage Method for es2ma2ng WTP for safety VALUING BENEFITS REVEALED PREFERENCE METHODS Valuing Bene\ufb01ts Revealed

7.3 Hedonic Wage Method(1) - Hedonic Wage Method for...

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Hedonic Wage Method for es2ma2ng WTP for safetyVALUING BENEFITS: REVEALED PREFERENCE METHODSValuing Benefits: Revealed Preference Methods
The Hedonic Pricing methodHedonic good is one with separable characteris?cs that affect its priceThere is an implicit – or hedonic price – for that characteris?cHedonic prices are iden?fied through a comparison of similar goods that differ for the quality ofone characteris?cEssen?ally we want to use the systema?c varia?on in the price of a good that can be explainedby a meaningful or relevant characteris?c of the good.This is the star?ng point to assess the WTP for the that characteris?c2 Valuing Benefits: Revealed Preference Methods
Risk of Fatal Injury Hedonic Wage StudiesSupervisory Responsibility Benefits Risk of Non-Fatal Injury Other Job Characteristics Location Preferences for Risk Industry Experience Wage Education Skill Other Worker Characteristics Valuing Benefits: Revealed Preference Methods
Company A Company BOccupation

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