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Effects of Disease Type and Latency on the Value of Mortality Risk

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Author Info
James Hammitt ()
Jin-Tan Liu
Abstract

We evaluate the effects of disease type and latency on willingness to pay (WTP) to reduce environmental risks of chronic, degenerative disease. Using contingent-valuation data collected from approximately 1,200 respondents in Taiwan, we find that WTP declines with latency between exposure to environmental contaminants and manifestation of any resulting disease, at a 1.5 percent annual rate for a 20 year latency period. WTP to reduce the risk of cancer is estimated to be about one-third larger than WTP to reduce risk of a similar chronic, degenerative disease. The value of risk reduction also depends on the affected organ, environmental pathway, or payment mechanism: estimated WTP to reduce the risk of lung disease due to industrial air pollution is twice as large as WTP to reduce the risk of liver disease due to contaminated drinking water. Copyright Kluwer Academic Publishers 2004

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File URL: http://hdl.handle.net/10.1023/B:RISK.0000009437.24783.e1
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Article provided by Springer in its journal Journal of Risk and Uncertainty.

Volume (Year): 28 (2004)
Issue (Month): 1 (January)
Pages: 73-95
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Handle: RePEc:kap:jrisku:v:28:y:2004:i:1:p:73-95

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Related research
Keywords: health risk; contingent valuation; willingness to pay; value per statistical life; cancer; latency; Taiwan;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. David Maddison & Eleanor Field & Zubaida Choudhury & Unai Pascual, 2009. "Trading-off health risk and latency: Evidence from water pollution in Bangladesh," Environmental Economy and Policy Research Working Papers 45.2009, University of Cambridge, Department of Land Economics, revised 2009. [Downloadable!]
  2. Xiaoqi Guo & James Hammitt, 2009. "Compensating Wage Differentials with Unemployment: Evidence from China," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(2), pages 187-209, February. [Downloadable!] (restricted)
  3. Takahiro Tsuge & Atsuo Kishimoto & Kenji Takeuchi, 2005. "A Choice Experiment Approach to the Valuation of Mortality," Journal of Risk and Uncertainty, Springer, vol. 31(1), pages 73-95, July. [Downloadable!] (restricted)
  4. Anna Alberini & Stefania Tonin & Margherita Turvani, 2009. "The Value of Reducing Cancer Risks at Contaminated Sites: Are More Heavily Exposed People Willing to Pay More?," Working Papers 2009.60, Fondazione Eni Enrico Mattei. [Downloadable!]
  5. Sujitra Vassanadumrongdee & Shunji Matsuoka, 2005. "Risk Perceptions and Value of a Statistical Life for Air Pollution and Traffic Accidents: Evidence from Bangkok, Thailand," Journal of Risk and Uncertainty, Springer, vol. 30(3), pages 261-287, May. [Downloadable!] (restricted)
  6. Cai, Yongxia & Shaw, W. Douglass & Wu, Ximing, 2008. "Risk Perception and Altruistic Averting Behavior: Removing Arsenic in Drinking Water," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6149, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  7. Rosalina Palanca Tan, 2008. "The Valur of Mortality Risk Reduction for Children in Metro Manila, Inferred from Parent's Willingness to Pay for Dengue Vaccines," EEPSEA Research Report rr2008081, Economy and Environment Program for Southeast Asia (EEPSEA), revised Aug 2008. [Downloadable!]
  8. Anna Alberini & Stefania Tonin & Margherita Turvani & Aline Chiabai, 2007. "Paying for permanence: Public preferences for contaminated site cleanup," Journal of Risk and Uncertainty, Springer, vol. 34(2), pages 155-178, April. [Downloadable!] (restricted)
    Other versions:
  9. Katherine Stackelberg & James Hammitt, 2009. "Use of Contingent Valuation to Elicit Willingness-to-Pay for the Benefits of Developmental Health Risk Reductions," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 43(1), pages 45-61, May. [Downloadable!] (restricted)
  10. Viscusi, W. Kip & Aldy, Joseph, 2006. "Labor Market Estimates of the Senior Discount for the Value of Statistical Life," Discussion Papers dp-06-12, Resources For the Future. [Downloadable!]
    Other versions:
  11. George Houtven & Melonie Sullivan & Chris Dockins, 2008. "Cancer premiums and latency effects: A risk tradeoff approach for valuing reductions in fatal cancer risks," Journal of Risk and Uncertainty, Springer, vol. 36(2), pages 179-199, April. [Downloadable!] (restricted)
  12. Luis Rizzi, 2008. "Integrating Travel Delays, Road Safety, Care, Vehicle Insurance and Cost-Benefit Analysis of Road Capacity Expansion in a Unified Framework," Networks and Spatial Economics, Springer, vol. 8(2), pages 125-140, September. [Downloadable!] (restricted)
  13. Jin-Tan Liu & James K. Hammitt & Jung-Der Wang & Meng-Wen Tsou, 2005. "Valuation of the risk of SARS in Taiwan," Health Economics, John Wiley & Sons, Ltd., vol. 14(1), pages 83-91. [Downloadable!]
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