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Valuing Mortality Risk Reductions: Progress and Challenges

Author

Listed:
  • 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)

Abstract

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.

Suggested Citation

  • Maureen Cropper & James K. Hammitt & Lisa A. Robinson, 2011. "Valuing Mortality Risk Reductions: Progress and Challenges," Annual Review of Resource Economics, Annual Reviews, vol. 3(1), pages 313-336, October.
  • Handle: RePEc:anr:reseco:v:3:y:2011:p:313-336
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    Citations

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    Cited by:

    1. Matthew D. Adler, 2016. "Editor's Choice Benefit–Cost Analysis and Distributional Weights: An Overview," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 10(2), pages 264-285.
    2. Grégory Ponthière, 2015. "The contribution of improved joint survival conditions to living standards: An equivalent consumption approach," Working Papers halshs-01194427, HAL.
    3. Pinto Prades, Jose Luis & Brey Sanchez, Raul, 2014. "Age effects in mortality risk valuation," Health Economics Working Paper Series 201401, Glasgow Caledonian University, Yunus Centre.
    4. Robinson Lisa A. & Hammitt James K., 2013. "Skills of the trade: valuing health risk reductions in benefit-cost analysis," Journal of Benefit-Cost Analysis, De Gruyter, vol. 4(1), pages 107-130, March.
    5. Gregory Ponthiere, 2016. "The contribution of improved joint survival conditions to living standards: an equivalent consumption approach," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 46(2), pages 407-449, February.
    6. Howley, Peter, 2017. "Less money or better health? Evaluating individual’s willingness to make trade-offs using life satisfaction data," Journal of Economic Behavior & Organization, Elsevier, vol. 135(C), pages 53-65.
    7. Christoph M. Rheinberger & Felix Schläpfer & Michael Lobsiger, 2017. "A Novel Approach to Estimating the Demand Value of Road Safety," Working Papers 2017.15, Fondazione Eni Enrico Mattei.
    8. repec:spr:eujhec:v:18:y:2017:i:7:d:10.1007_s10198-016-0852-8 is not listed on IDEAS
    9. Waldhoff, Stephanie & Anthoff, David & Rose, Steven K. & Tol, Richard S. J., 2014. "The marginal damage costs of different greenhouse gases: An application of FUND," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 8, pages 1-33.
    10. repec:eee:jhecon:v:57:y:2018:i:c:p:249-262 is not listed on IDEAS
    11. Anna Alberini & Milan Šcasný, 2017. "The Benefits of Avoiding Cancer (or Dying from Cancer): Evidence from a Four-country Study," Working Papers 2017.01, Fondazione Eni Enrico Mattei.
    12. Jonathan M. Lee & Laura O. Taylor, 2014. "Randomized Safety Inspections And Risk Exposure On The Job: Quasi-Experimental Estimates Of The Value Of A Statistical Life," Working Papers 14-05, Center for Economic Studies, U.S. Census Bureau.
    13. Cropper, Maureen & Khanna, Shefali, 2014. "How Should the World Bank Estimate Air Pollution Damages?," Discussion Papers dp-14-30, Resources For the Future.
    14. Anna Alberini, 2017. "Measuring the economic value of the effects of chemicals on ecological systems and human health," OECD Environment Working Papers 116, OECD Publishing.
    15. repec:kap:pubcho:v:172:y:2017:i:1:d:10.1007_s11127-017-0408-1 is not listed on IDEAS
    16. Sunstein Cass R., 2013. "The value of a statistical life: some clarifications and puzzles," Journal of Benefit-Cost Analysis, De Gruyter, vol. 4(2), pages 237-261, August.
    17. Hammitt, James & Roman, Henry & Stieb, David & Walsh, Tyra, 2012. "Expert Elicitation of the Value per Statistical Life in an Air Pollution Context," LERNA Working Papers 12.10.367, LERNA, University of Toulouse.
    18. David Anthoff & Richard Tol, 2013. "The uncertainty about the social cost of carbon: A decomposition analysis using fund," Climatic Change, Springer, vol. 117(3), pages 515-530, April.
    19. Tomoko Hasegawa & Shinichiro Fujimori & Kiyoshi Takahashi & Tokuta Yokohata & Toshihiko Masui, 2016. "Economic implications of climate change impacts on human health through undernourishment," Climatic Change, Springer, vol. 136(2), pages 189-202, May.

    More about this item

    Keywords

    value of a statistical life; regulatory analysis; hedonic wage studies; stated-preference studies;

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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