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What is the value of life implied by regression

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Reference no: EM132162046

1. You estimate a hedonic wage regression W = 100 D + 3000 Ed + 300 Exp - 5 Exp2

D = death rate per 100,000 for workers in the individual's occupation

Ed = years of schooling for the individual

Exp = Experience = Age of the individual - Ed - 6

Exp2 = Experience squared

  1. What is the value of life implied by this regression? Explain your answer.
  2. At what age does the wage of a college graduate (Ed = 16) reach a maximum?

Reference no: EM132162046

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