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Fishermen and miners have similar education and other characteristics, and fishing and mining are considered comparable jobs except that fishing is riskier. Fishermen face a
Fishermen and miners have similar education and other characteristics, and fishing and mining are considered comparable jobs except that fishing is riskier. Fishermen face a risk of on-the- job death of 4/10,000 per year, whereas 2/10,000 miners per year are killed in workplace accidents. Fishermen earn $51,000 per year and miners earn $49,000 per year. We infer that the value of a statistical life for this population is?
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