AbstractConstraints on the use of benefit-cost tests have generated increased interest in risk-risk analysis as a regulatory test. The effect on individual mortality of the income losses arising from regulatory expenditures can be determined from direct empirical estimates, which this article surveys. The article proposes an alternative formulation based on information on the value of life and the marginal propensity to spend on health, which implies a loss of one statistical life for every & million in expenditures. Occupational injury and fatality costs caused by expenditures represent another type of risk tradeoff that could be considered within risk-risk analysis or, more generally, a benefit-cost test. Copyright 1994 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Risk and Uncertainty.
Volume (Year): 8 (1994)
Issue (Month): 1 (January)
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"Self Protection and Averting Behavior, Values of Statistical Lives, and Benefit Cost Analysis of Environmental Policy,"
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200302, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Mar 2003.
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" The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World,"
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- W. Kip Viscusi & Joseph E. Aldy, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," NBER Working Papers 9487, National Bureau of Economic Research, Inc.
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"On stationarity and cointegration of international health expenditure and GDP,"
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- Georges Dionne & Paul Lanoie, 2002.
"How to Make a Public Choice About the Value of a Statistical Life: The Case of Road Safety,"
Cahiers de recherche
02-04, HEC Montréal, Institut d'économie appliquée.
- G. Dionne & P. Lanoie, 2002. "How to Make a Public Choice about the Value of a Statistical Life : The Case of Road Safety," THEMA Working Papers 2002-14, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
- Kuchler, Fred & Golan, Elise H., 1999. "Assigning Values To Life: Comparing Methods For Valuing Health Risks," Agricultural Economics Reports 34037, United States Department of Agriculture, Economic Research Service.
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