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Full-Text Articles in Public Policy
Risk Perception, Dread, And The Value Of Statistical Life: Evidence From Occupational Fatalities, Perry Singleton
Risk Perception, Dread, And The Value Of Statistical Life: Evidence From Occupational Fatalities, Perry Singleton
Center for Policy Research
In a model of occupational safety, biased perceptions of risk decrease welfare, which may justify government regulation. Bias is examined empirically by the correlation between subjective and objective risk, the former measured by self-reported exposure to death on the job. The correlation is negligible among workers with no high school diploma, consistent with underestimating risk in more dangerous occupations, and strongest among more educated workers when objective risk is specific to harmful and noxious substances, which in psychological studies rank high in dread. Biased perceptions of risk may also lead to biased estimates of value of statistical life. VSL estimates …
Tax Streams, Land Rents, And Urban Land Allocation, Yugang Tang, Zhihao Su, Yilin Hou, Zhendong Yin
Tax Streams, Land Rents, And Urban Land Allocation, Yugang Tang, Zhihao Su, Yilin Hou, Zhendong Yin
Center for Policy Research
This paper examines the fiscal motives behind municipal governments' decisions to allocate commercial and residential land when two categories of land use are subject to different fiscal revenue alternatives: business-related tax and/or land rent. We use urban parcel-level land transfers during China’s peak period of urbanization, match commercial parcels with residential parcels, and find significant price discounts on commercial parcels relative to adjacent residential parcels. The observed discounts arise from the future tax flows from commercial use, i.e., expected taxes from developed commercial land reduce its transfer price. We conduct a structural estimation to examine the implications on land use …