Cropper, Maureen, Hammitt, James K. and Robinson, Lisa A. (2011) Valuing Mortality-Risk Reductions: Progress and Challenges. Annual Review of Resource Economics, 3. pp. 313-336.

Preview

Text Download (621kB) | Preview

Abstract

The value of mortality risk reduction is an important component of
the benefits of environmental policies. In recent years, the number,
scope, and quality of valuation studies have increased dramatically.
Revealed-preference studies of wage compensation for occupational
risks, on which analysts have primarily relied, have benefited from
improved data and statistical methods. Stated-preference research has
improved methodologically and expanded dramatically. Studies are
now available for several health conditions associated with environmental
causes, and researchers have explored many issues concerning
the validity of the estimates.With the growing numbers of both types
of studies, several meta-analyses have become available that provide
insight into the results of both methods. Challenges remain, including
better understanding of the persistently smaller estimates from statedpreference
than from wage-differential studies and of how valuation
depends on the individual’s age, health status, and characteristics of
the illnesses most frequently associated with environmental causes.