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Valuing Mortality Risk Reductions: Progress and Challenges

  • Maureen Cropper

    ()

    (Department of Economics, University of Maryland, College Park, Maryland 20742
    Resources for the Future, Washington, DC 20036)

  • James K. Hammitt

    ()

    (Department of Health Policy and Management and Center for Risk Analysis, Harvard University School of Public Health, Boston, Massachusetts 02115
    LERNA-INRA, Toulouse School of Economics, 31000 Toulouse, France)

  • Lisa A. Robinson

    ()

    (Independent consultant)

The value of mortality risk reduction is an important component of the benefits of environmental policies. In recent years, the number, scope, and quality of valuation studies have increased dramatically. Revealed-preference studies of wage compensation for occupational risks, on which analysts have primarily relied, have benefited from improved data and statistical methods. Stated-preference research has improved methodologically and expanded dramatically. Studies are now available for several health conditions associated with environmental causes, and researchers have explored many issues concerning the validity of the estimates. With the growing numbers of both types of studies, several meta-analyses have become available that provide insight into the results of both methods. Challenges remain, including better understanding of the persistently smaller estimates from stated-preference than from wage-differential studies and of how valuation depends on the individual's age, health status, and characteristics of the illnesses most frequently associated with environmental causes.

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Article provided by Annual Reviews in its journal Annual Review of Resource Economics.

Volume (Year): 3 (2011)
Issue (Month): 1 (October)
Pages: 313-336

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Handle: RePEc:anr:reseco:v:3:y:2011:p:313-336
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