Volume 29, Number 3 (Summer) 1994
Gronberg, Timothy J., and W. Robert Reed. 1994. "Estimating Workers' Marginal Willingness to Pay for Job Attributes Using Duration Data." Journal of Human Resources 29(3):911-931.
This paper develops and applies a method for estimating workers' marginal willingness to pay for job attributes when workers' job choices are characterized by imperfect information and labor market search. As an application, this paper analyzes the job durations of white males using data from the National Longitudinal Survey, Youth Cohort and the Dictionary of Occupational Titles. Estimates of workers' willingness to pay derived from the job duration model are compared with those derived from an hedonic wage model.
Timothy J. Gronberg is a professor of economics at Texas A&M University. W. Robert Reed is an assistant professor of economics at the University of Oklahoma. Helpful comments on earlier drafts of this paper were provided by Ray Battalio, Donald Deere, Theresa Devine, Greg Duncan, Daniel Hamermesh, Dale Mortensen, Forrest Nelson, and Sherwin Rosen. The insightful comments of four anonymous referees are particularly appreciated. Rob Maness provided capable research support. The authors gratefully acknowledge financial assistance through a research Enhancement Grant from Texas A&M University. Any errors that remain are the sole responsibility of the authors. The data used in this article can be obtained beginning in February 1995 through February 1998 from W. Robert Reed, Department of Economics, Texas A&M University, College State, TX 77843-4228.
© 2002 by the Board of Regents of the University of Wisconsin System
US ISSN 0022-166X