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Article

Effect of Income Heterogeneity on Valuation of Mortality Risk in Taiwan: An Application of Unconditional Quantile Regression Method

The Center for Green Economy, Chung-Hua Institution for Economic Research, No. 75 Chang-Hsing Street, Taipei 10672, Taiwan
Int. J. Environ. Res. Public Health 2019, 16(9), 1620; https://doi.org/10.3390/ijerph16091620
Received: 27 March 2019 / Revised: 6 May 2019 / Accepted: 7 May 2019 / Published: 9 May 2019
(This article belongs to the Section Health Economics)
According to theory and existing empirical results, heterogeneity in personal characteristics, with income variation being one of them, affects the marginal willingness to pay (WTP) for reducing fatal risk. In this study, the effect of income heterogeneity on the value of statistical life (VSL) in Taiwan through unconditional quantile regression analysis using the data collected by the “Manpower Utilization Survey” is investigated. The results of this empirical study show that the hedonic wage function that was constructed using empirical data from Taiwan was in line with the general form of non-linear function rather than the semi-log function that has been often used in previous studies, which should have great impact on the estimation of the VSL. The empirical results also show that the estimated VSL of Taiwanese labor varied with the difference in wages, which needs to be taken into account when discussing the public policies using VSL. View Full-Text
Keywords: value of statistical life; income heterogeneity; hedonic wage function; Box-Cox transform; unconditional quantile regression value of statistical life; income heterogeneity; hedonic wage function; Box-Cox transform; unconditional quantile regression
MDPI and ACS Style

Liou, J.-L. Effect of Income Heterogeneity on Valuation of Mortality Risk in Taiwan: An Application of Unconditional Quantile Regression Method. Int. J. Environ. Res. Public Health 2019, 16, 1620. https://doi.org/10.3390/ijerph16091620

AMA Style

Liou J-L. Effect of Income Heterogeneity on Valuation of Mortality Risk in Taiwan: An Application of Unconditional Quantile Regression Method. International Journal of Environmental Research and Public Health. 2019; 16(9):1620. https://doi.org/10.3390/ijerph16091620

Chicago/Turabian Style

Liou, Je-Liang. 2019. "Effect of Income Heterogeneity on Valuation of Mortality Risk in Taiwan: An Application of Unconditional Quantile Regression Method" International Journal of Environmental Research and Public Health 16, no. 9: 1620. https://doi.org/10.3390/ijerph16091620

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