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Value of Statistical Life Estimates for Children in Metro Manila, Inferred from Parents’ Willingness to Pay for Dengue Vaccines

Author

Listed:
  • Rosalina Palanca Tan

    (Department of Economics, Ateneo de Manila University)

Abstract

This study presents a 'value of life' estimate for children in Metro Manila of between US$0.70 million and US$0.80 million. It was carried out by Rosalina Palanca-Tan, from the Department of Economics at the Ateneo de Manila University in Quezon City. Palanca-Tan's assessment is based on parents' willingness to pay for two hypothetical dengue vaccines for their children. It takes an innovative approach to the valuation challenge, one that removes much of the uncertainty surrounding similar past studies. This method involves isolating people's willingness to pay for the reduction in mortality risk that the vaccines bring. This is done by disentangling it from their willingness to pay for other related benefits that the vaccines bring (such as reducing the pain associated with illness). The study succeeds in producing a result that can be used generally to value life in a range of scenarios and situations. As children are most vulnerable to environmental degradation such as air pollution and water pollution, this valuation will be particularly useful to environmental policy makers and campaigners looking to estimate the overall benefit of their work.

Suggested Citation

  • Rosalina Palanca Tan, 2008. "Value of Statistical Life Estimates for Children in Metro Manila, Inferred from Parents’ Willingness to Pay for Dengue Vaccines," EEPSEA Research Report rr2008081, Economy and Environment Program for Southeast Asia (EEPSEA), revised Aug 2008.
    • Handle: RePEc:eep:report:rr2008081
    as

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    File URL: http://www.eepsea.org/pub/rr/12179089471LinaRR4.pdf
    File Function: First version, 2008
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    References listed on IDEAS

    as
    1. Cropper, Maureen L. & Haile, Mitiku & Lampietti, Julian & Poulos, Christine & Whittington, Dale, 2004. "The demand for a malaria vaccine: evidence from Ethiopia," Journal of Development Economics, Elsevier, vol. 75(1), pages 303-318, October.
    2. Jones-Lee, M W & Hammerton, M & Philips, P R, 1985. "The Value of Safety: Results of a National Sample Survey," Economic Journal, Royal Economic Society, vol. 95(377), pages 49-72, March.
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    Cited by:

    1. Rosalina Palanca-Tan, 2013. "Age Preferences For Life-Saving Programs: Using Choice Modeling To Measure The Relative Values Of Statistical Life," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 58(02), pages 1-15.

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    Keywords

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    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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