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Risk Communication and the Value of Information: Radon as a Case Study

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  • Smith, V Kerry
  • Desvousges, William H

Abstract

This study evaluates the effectiveness of a radon risk communication program based on how the estimated value of additional information varies across the six types of descriptive materials randomly assigned to a panel of homeowners participating in a radon utility model estimated with probit from respondents' answers to a contingent behavior question asking if they would purchase at a one-time price the services of a licensed technician to analyze their radon problems. The findings indicate that the information materials used most frequently by states and testing companies to explain radon's risk are the least effective of the six considered. Copyright 1990 by MIT Press.

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  • Smith, V Kerry & Desvousges, William H, 1990. "Risk Communication and the Value of Information: Radon as a Case Study," The Review of Economics and Statistics, MIT Press, vol. 72(1), pages 137-142, February.
    • Handle: RePEc:tpr:restat:v:72:y:1990:i:1:p:137-42
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    Cited by:

    1. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
    2. John R. Crooker & Aju J. Fenn, 2008. "Estimating Local Welfare Generated by a Professional Sports Team: An Application to the Minnesota Vikings under Threat of Relocation," Working Papers 0805, University of Central Missouri, Department of Economics & Finance, revised May 2008.
    3. Smith, V. Kerry, 1990. "Environmental Risk Perception and Valuation: Conventional versus Prospective Reference Theory," 1990 Annual meeting, August 5-8, Vancouver, Canada 270887, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Vivianne H. M. Visschers & Ree M. Meertens & Wim W. F. Passchier & Nanne N. K. De Vries, 2009. "Probability Information in Risk Communication: A Review of the Research Literature," Risk Analysis, John Wiley & Sons, vol. 29(2), pages 267-287, February.
    5. Melkonyan, Tigran A., 2011. "The Effect of Communicating Ambiguous Risk Information on Choice," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(2), pages 1-21, August.
    6. Pallab Mozumder & Ryan Helton & Robert P. Berrens, 2009. "Provision of a Wildfire Risk Map: Informing Residents in the Wildland Urban Interface," Risk Analysis, John Wiley & Sons, vol. 29(11), pages 1588-1600, November.
    7. Chiradip Chatterjee & Pallab Mozumder, 2014. "Understanding Household Preferences for Hurricane Risk Mitigation Information: Evidence from Survey Responses," Risk Analysis, John Wiley & Sons, vol. 34(6), pages 984-996, June.
    8. Dean Gatzlaff & Kathleen McCullough & Lorilee Medders & Charles M. Nyce, 2018. "The Impact of Hurricane Mitigation Features and Inspection Information on House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 57(4), pages 566-591, November.
    9. Berrens, Robert P. & Bohara, Alok K. & Jenkins-Smith, Hank C. & Silva, Carol L. & Weimer, David L., 2004. "Information and effort in contingent valuation surveys: application to global climate change using national internet samples," Journal of Environmental Economics and Management, Elsevier, vol. 47(2), pages 331-363, March.
    10. Konishi, Yoshifumi & Coggins, Jay S., 2008. "Environmental risk and welfare valuation under imperfect information," Resource and Energy Economics, Elsevier, vol. 30(2), pages 150-169, May.
    11. Ferraro, Paul J. & Miranda, Juan José, 2013. "Heterogeneous treatment effects and mechanisms in information-based environmental policies: Evidence from a large-scale field experiment," Resource and Energy Economics, Elsevier, vol. 35(3), pages 356-379.
    12. Smith, V. Kerry, 2000. "JEEM and Non-market Valuation: 1974-1998," Journal of Environmental Economics and Management, Elsevier, vol. 39(3), pages 351-374, May.
    13. Hoehn, John P. & Randall, Alan, 2002. "The effect of resource quality information on resource injury perceptions and contingent values," Resource and Energy Economics, Elsevier, vol. 24(1-2), pages 13-31, February.
    14. Chong Dong & Hainan Wang & Wenjin Long & Jiujie Ma & Yi Cui, 2023. "Can Agricultural Cooperatives Promote Chinese Farmers’ Adoption of Green Technologies?," IJERPH, MDPI, vol. 20(5), pages 1-17, February.
    15. Mikołaj Czajkowski & Nick Hanley & Jacob LaRiviere & William S. Neilson & Katherine Simpson, 2016. "Information and Learning in Stated-Preference Studies," Working Papers 2016-20, Faculty of Economic Sciences, University of Warsaw.

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