IDEAS home Printed from https://ideas.repec.org/a/kap/jrisku/v33y2006i3p165-182.html
   My bibliography  Save this article

Dread risks

Author

Listed:
  • Susan Chilton
  • Michael Jones-Lee
  • Francis Kiraly
  • Hugh Metcalf
  • Wei Pang

Abstract

It is a well-established fact that many people view the prospect of premature death by some causes with considerably more disquiet or “dread” than death by other causes. It is equally clear that for most people their personal risk of death by a given cause is also a matter of serious concern. This article reports the findings of a study aimed at estimating the effects of dread and personal risk of death by a specific cause on the willingness-to-pay based Value of Statistical Life (VSL) for that cause. Copyright Springer Science + Business Media, LLC 2006

Suggested Citation

  • Susan Chilton & Michael Jones-Lee & Francis Kiraly & Hugh Metcalf & Wei Pang, 2006. "Dread risks," Journal of Risk and Uncertainty, Springer, vol. 33(3), pages 165-182, December.
    • Handle: RePEc:kap:jrisku:v:33:y:2006:i:3:p:165-182
    DOI: 10.1007/s11166-006-0483-z
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11166-006-0483-z
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11166-006-0483-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Viscusi, W Kip, 1989. "Prospective Reference Theory: Toward an Explanation of the Paradoxes," Journal of Risk and Uncertainty, Springer, vol. 2(3), pages 235-263, September.
    2. Kip Viscusi, W. & Magat, Wesley A. & Huber, Joel, 1991. "Pricing environmental health risks: survey assessments of risk-risk and risk-dollar trade-offs for chronic bronchitis," Journal of Environmental Economics and Management, Elsevier, vol. 21(1), pages 32-51, July.
    3. Savage, Ian, 1993. "An Empirical Investigation into the Effect of Psychological Perceptions on the Willingness-to-Pay to Reduce Risk," Journal of Risk and Uncertainty, Springer, vol. 6(1), pages 75-90, January.
    4. Jones-Lee, M W & Loomes, G, 1995. "Scale and Context Effects in the Valuation of Transport Safety," Journal of Risk and Uncertainty, Springer, vol. 11(3), pages 183-203, December.
    5. Chilton, Susan & Covey, Judith & Hopkins, Lorraine & Jones-Lee, Michael & Loomes, Graham & Pidgeon, Nick & Spencer, Anne, 2002. "Public Perceptions of Risk and Preference-Based Values of Safety," Journal of Risk and Uncertainty, Springer, vol. 25(3), pages 211-232, November.
    6. Timothy L. McDaniels & Mark S. Kamlet & Gregory W. Fischer, 1992. "Risk Perception and the Value of Safety," Risk Analysis, John Wiley & Sons, vol. 12(4), pages 495-503, December.
    7. Judith A. Covey, 2001. "People's Preferences for Safety Control: Why Does Baseline Risk Matter?," Risk Analysis, John Wiley & Sons, vol. 21(2), pages 331-340, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jones-Lee, M. & Spackman, M., 2013. "The development of road and rail transport safety valuation in the United Kingdom," Research in Transportation Economics, Elsevier, vol. 43(1), pages 23-40.
    2. James Hammitt & Tuba Tunçel, 2015. "Preferences for life-expectancy gains: Sooner or later?," Journal of Risk and Uncertainty, Springer, vol. 51(1), pages 79-101, August.
    3. Henry A. Roman & James K. Hammitt & Tyra L. Walsh & David M. Stieb, 2012. "Expert Elicitation of the Value per Statistical Life in an Air Pollution Context," Risk Analysis, John Wiley & Sons, vol. 32(12), pages 2133-2151, December.
    4. Michael Jones-Lee, 2015. "Dealing with safety in UK public sector project appraisal," Chapters, in: Carol Mansfield & V. K. Smith (ed.), Benefit–Cost Analyses for Security Policies, chapter 5, pages 117-139, Edward Elgar Publishing.
    5. Kochi, Ikuho & Taylor, Laura O., 2011. "Risk Heterogeneity and the Value of Reducing Fatal Risks: Further Market-Based Evidence," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 2(3), pages 1-28, August.
    6. Sara Olofsson & Ulf G. Gerdtham & Lars Hultkrantz & Ulf Persson, 2019. "Dread and Risk Elimination Premium for the Value of a Statistical Life," Risk Analysis, John Wiley & Sons, vol. 39(11), pages 2391-2407, November.
    7. W. Viscusi & Elissa Gentry, 2015. "The value of a statistical life for transportation regulations: A test of the benefits transfer methodology," Journal of Risk and Uncertainty, Springer, vol. 51(1), pages 53-77, August.
    8. Alberini, Anna & Ščasný, Milan, 2013. "Exploring heterogeneity in the value of a statistical life: Cause of death v. risk perceptions," Ecological Economics, Elsevier, vol. 94(C), pages 143-155.
    9. Scotton, Carol R. & Taylor, Laura O., 2011. "Valuing risk reductions: Incorporating risk heterogeneity into a revealed preference framework," Resource and Energy Economics, Elsevier, vol. 33(2), pages 381-397, May.
    10. Jones-Lee, M. & Aven, T., 2011. "ALARP—What does it really mean?," Reliability Engineering and System Safety, Elsevier, vol. 96(8), pages 877-882.
    11. Christoph Rheinberger, 2011. "A Mixed Logit Approach to Study Preferences for Safety on Alpine Roads," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 49(1), pages 121-146, May.
    12. Rebecca L. McDonald & Susan M. Chilton & Michael W. Jones-Lee & Hugh R. T. Metcalf, 2016. "Dread and latency impacts on a VSL for cancer risk reductions," Journal of Risk and Uncertainty, Springer, vol. 52(2), pages 137-161, April.
    13. Gentry, Elissa Philip & Viscusi, W. Kip, 2016. "The fatality and morbidity components of the value of statistical life," Journal of Health Economics, Elsevier, vol. 46(C), pages 90-99.
    14. Schubert, Manuel & Brück, Tilman, 2014. "The Perception of Lethal Risks: Evidence from a Laboratory Experiment," IZA Discussion Papers 8578, Institute of Labor Economics (IZA).
    15. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. 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.
    2. James K. Hammitt, 2002. "QALYs Versus WTP," Risk Analysis, John Wiley & Sons, vol. 22(5), pages 985-1001, October.
    3. Cookson, Richard, 2000. "Incorporating psycho-social considerations into health valuation: an experimental study," Journal of Health Economics, Elsevier, vol. 19(3), pages 369-401, May.
    4. Fredrik Carlsson & Dinky Daruvala & Henrik Jaldell, 2010. "Value of Statistical Life and Cause of Accident: A Choice Experiment," Risk Analysis, John Wiley & Sons, vol. 30(6), pages 975-986, June.
    5. Fredrik Carlsson & Dinky Daruvala & Henrik Jaldell, 2012. "Do administrators have the same priorities for risk reductions as the general public?," Journal of Risk and Uncertainty, Springer, vol. 45(1), pages 79-95, August.
    6. 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.
    7. Chilton, Susan M. & Burgess, Diane & Hutchinson, W. George, 2006. "The relative value of farm animal welfare," Ecological Economics, Elsevier, vol. 59(3), pages 353-363, September.
    8. 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.
    9. W. Viscusi, 2009. "Valuing risks of death from terrorism and natural disasters," Journal of Risk and Uncertainty, Springer, vol. 38(3), pages 191-213, June.
    10. Judith Covey & Angela Robinson & Michael Jones-Lee & Graham Loomes, 2010. "Responsibility, scale and the valuation of rail safety," Journal of Risk and Uncertainty, Springer, vol. 40(1), pages 85-108, February.
    11. James K. Hammitt, 2020. "Valuing mortality risk in the time of COVID-19," Journal of Risk and Uncertainty, Springer, vol. 61(2), pages 129-154, October.
    12. James Hammitt & Jin-Tan Liu, 2004. "Effects of Disease Type and Latency on the Value of Mortality Risk," Journal of Risk and Uncertainty, Springer, vol. 28(1), pages 73-95, January.
    13. Amro Nasr & Oskar Larsson Ivanov & Ivar Björnsson & Jonas Johansson & Dániel Honfi, 2021. "Towards a Conceptual Framework for Built Infrastructure Design in an Uncertain Climate: Challenges and Research Needs," Sustainability, MDPI, vol. 13(21), pages 1-19, October.
    14. Henrik Andersson & Nicolas Treich, 2011. "The Value of a Statistical Life," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 17, Edward Elgar Publishing.
    15. Erpeng Wang & Ning An & Zhifeng Gao & Emmanuel Kiprop & Xianhui Geng, 2020. "Consumer food stockpiling behavior and willingness to pay for food reserves in COVID-19," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 12(4), pages 739-747, August.
    16. Jaldell Henrik, 2013. "Cost-benefit analyses of sprinklers in nursing homes for elderly," Journal of Benefit-Cost Analysis, De Gruyter, vol. 4(2), pages 209-235, August.
    17. Evans, Andrew W., 2013. "The economics of railway safety," Research in Transportation Economics, Elsevier, vol. 43(1), pages 137-147.
    18. Winslott Hiselius, Lena, 2003. "The Value of Road and Railway Safety - an Overview," Working Papers 2003:13, Lund University, Department of Economics.
    19. Sund, Björn, 2009. "Sensitivity to scope in contingent valuation – introducing a flexible community analogy to communicate mortality risk reductions," Working Papers 2009:2, Örebro University, School of Business.
    20. Arianne de Blaeij & Raymond J.G.M. Florax & Piet Rietveld & Erik T. Verhoef, 2000. "The Value of Statistical Life in Road Safety: A Meta-Analysis," Tinbergen Institute Discussion Papers 00-089/3, Tinbergen Institute.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jrisku:v:33:y:2006:i:3:p:165-182. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.