Economic Uncertainties in Valuing Reductions in Children's Environmental Health Risks
AbstractThe recognition that environmental hazards can affect children differently and more severely than adults has provoked growing concern in industrialized nations about the impact of environmental pollution on children’s health. In this paper, commissioned by the OECD, we are charged with examining “economic uncertainties” associated with valuing the benefits of environmental policies that reduce risk to children’s health. We examine two sources of uncertainty in benefits estimation: forecasting uncertainty and modeling uncertainty. We explore how these sources of uncertainty affect the use of standard economic and non-economic approaches to the valuation of health benefits. These include willingness-to-pay measures, cost-of-illness and human-capital measures, and quality-adjusted life years (QALYs) and related non-economic measures.
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Bibliographic InfoPaper provided by Resources For the Future in its series Discussion Papers with number dp-05-27.
Date of creation: 15 Dec 2005
Date of revision:
willingness to pay; QALY; children; social welfare function; health valuation; environmental health; household behavior;
Find related papers by JEL classification:
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- I1 - Health, Education, and Welfare - - Health
- J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
- D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
- D6 - Microeconomics - - Welfare Economics
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy
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