<div class="csl-bib-body">
<div class="csl-entry">Kerndler, M., Fürnkranz-Prskawetz, A., & Sanchez Romero, M. (2023, September 21). <i>A life-cycle model of risk-taking on the job</i> [Poster Presentation]. Conference of the European Association of Labour Economists (EALE) 2023, Prag, Czechia.</div>
</div>
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dc.identifier.uri
http://hdl.handle.net/20.500.12708/190566
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dc.description.abstract
Behavioural studies suggest that individuals become more averse to taking risks as they age. Nevertheless the incidence of fatal work injuries is increasing in age in the US and the EU. We develop a life-cycle model that rationalizes this pattern. We find that the decreasing value of life incentivizes higher risk-taking towards the end of a career and can potentially dominate an increasing preference for safer jobs. Calibrating the model to the US, we show that our model generates a compensating wage differential and a trade-off between wealth and mortality, by which wealthier workers give up part of their wages in favour of lower mortality risk at the workplace. In a counterfactual analysis, we study the effect of pension reforms and ageing on on-the-job mortality, finding that a higher retirement age as well as a lower baseline mortality reduce risk-taking at all ages, while a higher pension replacement rate only benefits older workers.
en
dc.language.iso
en
-
dc.subject
life-cycle
en
dc.subject
risk-taking
en
dc.title
A life-cycle model of risk-taking on the job
en
dc.type
Presentation
en
dc.type
Vortrag
de
dc.type.category
Poster Presentation
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tuw.researchTopic.id
A4
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tuw.researchTopic.id
C6
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tuw.researchTopic.name
Mathematical Methods in Economics
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tuw.researchTopic.name
Modeling and Simulation
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tuw.researchTopic.value
50
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tuw.researchTopic.value
50
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tuw.publication.orgunit
E105-03 - Forschungsbereich Ökonomie
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tuw.author.orcid
0000-0002-1683-8006
-
tuw.author.orcid
0000-0002-2850-6682
-
tuw.author.orcid
0000-0002-5999-6522
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tuw.event.name
Conference of the European Association of Labour Economists (EALE) 2023
en
tuw.event.startdate
21-09-2023
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tuw.event.enddate
23-09-2023
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tuw.event.online
On Site
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tuw.event.type
Event for scientific audience
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tuw.event.place
Prag
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tuw.event.country
CZ
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tuw.event.presenter
Kerndler, Martin
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wb.sciencebranch
Wirtschaftswissenschaften
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wb.sciencebranch
Mathematik
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wb.sciencebranch.oefos
5020
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wb.sciencebranch.oefos
1010
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wb.sciencebranch.value
50
-
wb.sciencebranch.value
50
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item.languageiso639-1
en
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item.openairetype
conference poster not in proceedings
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item.grantfulltext
none
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item.fulltext
no Fulltext
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item.cerifentitytype
Publications
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item.openairecristype
http://purl.org/coar/resource_type/c_18co
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crisitem.author.dept
E105-03 - Forschungsbereich Ökonomie
-
crisitem.author.dept
E105-03 - Forschungsbereich Ökonomie
-
crisitem.author.dept
E105-03 - Forschungsbereich Ökonomie
-
crisitem.author.orcid
0000-0002-1683-8006
-
crisitem.author.orcid
0000-0002-2850-6682
-
crisitem.author.orcid
0000-0002-5999-6522
-
crisitem.author.parentorg
E105 - Institut für Stochastik und Wirtschaftsmathematik
-
crisitem.author.parentorg
E105 - Institut für Stochastik und Wirtschaftsmathematik
-
crisitem.author.parentorg
E105 - Institut für Stochastik und Wirtschaftsmathematik
