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Willingness to Pay for Mortality Risk Reductions: Does Latency Matter?

Author

Listed:
  • Anna Alberini
  • Maureen Cropper
  • Alan Krupnick
  • Nathalie B. Simon

Abstract

Using results from two contingent valuation surveys conducted in Canada and the U.S., we explore the effect of a latency period on willingness to pay (WTP) for reduced mortality risk using both structural and reduced form approaches. We find that delaying the time at which the risk reduction occurs by 10 to 30 years reduces WTP by more than half for respondents in both samples aged 40 to 60 years. Additionally, we estimate implicit discount rates equal to 8% for Canada and 4.5% for the U.S. – both well within the range established previously in the literature.

Suggested Citation

  • Anna Alberini & Maureen Cropper & Alan Krupnick & Nathalie B. Simon, 2004. "Willingness to Pay for Mortality Risk Reductions: Does Latency Matter?," NCEE Working Paper Series 200401, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Feb 2004.
    • Handle: RePEc:nev:wpaper:wp200401
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    File URL: https://www.epa.gov/environmental-economics/working-paper-willingness-pay-mortality-risk-reductions-does-latency-matter
    File Function: First version, 2004
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    JEL classification:

    • 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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