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A Laboratory Experiment for the Estimation of Health Risks: Policy Recommendations

Author

Listed:
  • Andreas Drichoutis
  • Phoebe Koundouri
  • Mavra Stithou

Abstract

Environmental health hazards in Asopos River Basin (RB) rise concerns on health risk not only for the residents of the catchment but also for the consumers of the area s products across the country. As a result, the focus of this chapter is on the estimation of theses health risks. In order to assess the social cost from consuming products produced in an area where water resources are not in good condition a lab experimental auction has been conducted. According to the details of the experiment presented at the beginning of the chapter all participants were asked to bid to exchange a product from region A (the polluted one) with a similar product from a region in a good ecological status (in the terminology of the European Water Framework Directive (WFD)), region B. After the presentation of the employed methodology econometric analysis was conducted. The output of this analysis is an average Willingness-to-Pay (WTP) for the specific sample of consumers. WTP represents the maximum amount of money a person would be willing to pay in order to receive a good or avoid an undesired impact. The chapter concludes with policy recommendations and suggests that unless an epidemiology study confirms the health hazards from consuming agricultural products cultivated in the area of Asopos (area similar to the characteristics of region A), the estimated amount is a net cost suffered by the local farmers and compensation measures have to be adopted.

Suggested Citation

  • Andreas Drichoutis & Phoebe Koundouri & Mavra Stithou, 2013. "A Laboratory Experiment for the Estimation of Health Risks: Policy Recommendations," DEOS Working Papers 1316, Athens University of Economics and Business.
  • Handle: RePEc:aue:wpaper:1316
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    References listed on IDEAS

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    1. Raymond J. G. M. Florax & Chiara M. Travisi & Peter Nijkamp, 2005. "A meta-analysis of the willingness to pay for reductions in pesticide risk exposure," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 32(4), pages 441-467, December.
    2. Stenger, Anne, 2000. "Experimental valuation of food safety: Application to sewage sludge," Food Policy, Elsevier, vol. 25(2), pages 211-218, April.
    3. Costa-Font, Montserrat & Gil, José M. & Traill, W. Bruce, 2008. "Consumer acceptance, valuation of and attitudes towards genetically modified food: Review and implications for food policy," Food Policy, Elsevier, vol. 33(2), pages 99-111, April.
    4. Lusk, Jayson L. & Jamal, Mustafa & Kurlander, Lauren & Roucan, Maud & Taulman, Lesley, 2005. "A Meta-Analysis of Genetically Modified Food Valuation Studies," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 30(01), April.
    5. Anne Rozan & Anne Stenger & Marc Willinger, 2004. "Willingness-to-pay for food safety: An experimental investigation of quality certification on bidding behaviour," Framed Field Experiments 00197, The Field Experiments Website.
    6. Lusk,Jayson L. & Shogren,Jason F., 2007. "Experimental Auctions," Cambridge Books, Cambridge University Press, number 9780521671248, May.
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