Tools
Tools
Herrera Araujo, Daniel Andres
, Rheinberger, Christoph M. and Hammitt, James K.
(2022)
Valuing non-marginal changes in mortality and morbidity risk.
TSE Working Paper, n. 22-1331, Toulouse
Preview |
Text
Download (722kB) | Preview |
Abstract
Many stated-preference studies that seek to estimate the marginal willingness-to-pay (WTP) for reductions in mortality or morbidity risk su˙er from inadequate scope sensitivity. One possible reason is that the risk reductions presented to respondents are too small to be meaningful. Survey responses may thus not accurately reflect respondents’ preferences for health and safety. In this paper we propose a novel approach to estimating the value per statistical life (VSL) or the value per statistical case (VSC) based on larger risk reductions measurable as percentages. While such non-marginal risk reductions are easier to understand, they introduce well known biases. We propose a methodology to de-bias VSL and VSC estimates derived from the evaluation of non-marginal risk reductions and present a proof of concept using simulated stated preference data.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Language: | English |
| Date: | April 2022 |
| Place of Publication: | Toulouse |
| Uncontrolled Keywords: | Value per Statistical Life, Value per Statistical Case, non-marginal risks reductions, scope sensitivity |
| JEL Classification: | D10 - General D81 - Criteria for Decision-Making under Risk and Uncertainty I1 - Health Q51 - Valuation of Environmental Effects |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Institution: | Université Toulouse Capitole |
| Site: | UT1 |
| Date Deposited: | 02 May 2022 07:31 |
| Last Modified: | 06 Feb 2023 14:36 |
| OAI Identifier: | oai:tse-fr.eu:126887 |
| URI: | https://publications.ut-capitole.fr/id/eprint/45295 |
Available Versions of this Item
- Valuing non-marginal changes in mortality and morbidity risk. (deposited 02 May 2022 07:31) [Currently Displayed]
