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We use a panel dataset of UK workers to look for evidence of compensating wage differentials for workplace risk, combined with risk data at the four-digit industry level. We discuss various econometric problems associated with the hedonic wage approach, namely the instability of the estimates to specification changes, unobserved heterogeneity, and endogeneity. We find evidence of significant compensating wage differentials and VSL figures only under the most restrictive assumptions, i.e. whendoi:10.1080/00036840802260940 fatcat:t5wwovhs2vbqdelpe74exdxza4