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1.
Risk Perceptions and Value of a Statistical Life for Air Pollution and Traffic Accidents: Evidence from Bangkok,Thailand 总被引:3,自引:0,他引:3
This paper presents results of two contingent valuation surveys conducted in Bangkok measuring individuals’ willingness to pay (WTP) to reduce mortality risk arising from two risk contexts: air pollution traffic accidents Results from the risk perception survey disclose that respondents view the two risks differently. WTP to reduce air pollution risk is influenced by degrees of dread, severity, controllability and personal exposure, while WTP to reduce traffic accident risk is influenced by perceived immediate occurrence. Nevertheless, the value of a statistical life (VSL) for both air pollution and traffic accidents are comparable (US$0.74 to $1.32 million and US$0.87 to $1.48 million, respectively). This indicates that the risk perception factor alone has little impact on the VSL, a finding similar to previous studies using program choice indifferences.JEL Classification: I18, D61, J17, J28 相似文献
2.
W. Kip Viscusi 《Journal of Risk and Uncertainty》2010,40(1):1-13
The refinement in worker fatality risk data used in hedonic wage studies and evidence from new stated preference studies have
facilitated the exploration of the heterogeneity of the value of statistical life (VSL). Although the median VSL estimate
for workers is $7–$7–8 million, the VSL varies considerably within the worker population. New estimates of the income elasticity
of VSL are 1.0 or above, which are consistent with theoretical models linking VSL to the coefficient of relative risk aversion.
The specific relationship between VSL and risk aversion is, however, more complex than previously understood. Age differences
in VSL are substantial, with young children being accorded especially high VSL amounts. The public’s willingness to pay to
reduce risks is reduced if those being protected are perceived as being blameworthy due to their responsibility for contributing
to the risk. 相似文献
3.
Background Risks and the Value of a Statistical Life 总被引:1,自引:0,他引:1
We examine the effects of background mortality and financial risks on an individual's willingness to pay to reduce his mortality risk (the value of statistical life or VSL). Under reasonable assumptions about risk aversion and prudence with respect to wealth in the event of survival and with respect to bequests in the event of death, background mortality and financial risks decrease VSL. The effects of large mortality or financial risks on VSL can be substantial, but the effects of small background risks are negligible. These results suggest that the commonplace failure to account for background risk in evaluating VSL is unlikely to produce substantial bias in most applications. 相似文献
4.
Thomas J. Kniesner W. Kip Viscusi James P. Ziliak 《Journal of Risk and Uncertainty》2014,48(3):187-205
Our research clarifies the conceptual linkages among willingness to pay for additional safety, willingness to accept less safety, and the value of a statistical life (VSL). We present econometric estimates using panel data to analyze the VSL levels associated with job changes that may affect the worker’s exposure to fatal injury risks. Our baseline VSL estimates are $7.7 million and $8.3 million (Y$2001). There is no statistically significant divergence between willingness-to-accept VSL estimates associated with wage increases for greater risks and willingness-to-pay VSL estimates as reflected in wage changes for decreases in risk. Our focal result contrasts with the literature documenting a considerable asymmetry in tradeoff rates for increases and decreases in risk. An important implication for policy is that it is reasonable to use labor market estimates of VSL as a measure of the willingness to pay for additional safety. 相似文献
5.
Anna Alberini Stefania Tonin Margherita Turvani Aline Chiabai 《Journal of Risk and Uncertainty》2007,34(2):155-178
We use conjoint choice questions to investigate the preferences of people in four cities in Italy for income and future/permanent
mortality risk reductions delivered by contaminated site remediation policies. The VSL is €5.6 million for an immediate risk
reduction. If the risk reduction takes place 20 years from now, the implied VSL is €1.26 million. Respondents’ implicit discount
rate is 7%. The VSL depends on respondent characteristics, familiarity with contaminated sites, concern about the health effects
of exposure to toxicants, having a family member with cancer, perceived usefulness of public programs and beliefs about the
goals of government remediation programs.
相似文献
Anna AlberiniEmail: |
6.
We examine differences in the value of statistical life (VSL) across potential wage levels in panel data using quantile regressions
with intercept heterogeneity. Latent heterogeneity is econometrically important and affects the estimated VSL. Our findings
indicate that a reasonable average cost per expected life saved cut-off for health and safety regulations is 7 million to7 million to
8 million per life saved, but the VSL varies considerably across the labor force. Our results reconcile the previous discrepancies
between hedonic VSL estimates and the values implied by theories linked to the coefficient of relative risk aversion. Because the VSL varies elastically with income, regulatory agencies should regularly update the VSL used in benefit assessments,
increasing the VSL proportionally with changes in income over time. 相似文献
7.
There are concerns regarding uncertainty about the accuracy of applying available empirical willingness-to-pay (WTP) estimates for reducing accidental deaths to value changes in risks of pollution-related deaths. In this study, we develop a theoretical model on defining WTP, and its determinants, and derive WTP estimates for changes in pollution-related mortality risks with varying morbidity and timing attributes. A survey is designed and conducted with 100 subjects. Each subject was to complete five choice sets and provided a range of implicit values of statistical life (VSL). The choices are estimated using the logit procedure. And, using the results of estimated multinomial logit model, the VSL is estimated to about $6.2 million. 相似文献
8.
Mikael Svensson 《Journal of Risk and Uncertainty》2009,39(1):65-85
This paper examines within-sample correlation between six different precautionary behaviors and stated willingness to pay
for a mortality risk reduction. The paper also shows estimates of the value of a statistical life based on seat belt and bicycle
helmet use as well as based on the stated willingness to pay for a risk reduction in traffic mortality. Contrary to the theoretical
expectations, no correlation is found between precautionary behavior and stated willingness to pay. One major explanation
is that females and the elderly take more precaution, but state a lower WTP for a risk reduction. The estimates of VSL from
the different approaches are $11.0 million, $5.0 million and $2.8 million from stated WTP, bicycle helmet use and seat belt
use, respectively.
相似文献
Mikael SvenssonEmail: |
9.
Life-saving regulations may be counter-productive since they have an indirect mortality effect through the reduction in disposable income. This paper estimates the effect of income on mortality, controlling for the initial health status and a host of personal characteristics. The analysis is based on a random sample of the adult Swedish population of over 40,000 individuals followed up for 10–17 years. The income loss that will induce an expected fatality is estimated to be $6.8 million when the costs are borne equally among all adults, $8.4 million when the costs are borne proportionally to income and $9.8 million when the costs are borne progressively to income. 相似文献
10.
Hammitt James K. Geng Fangli Guo Xiaoqi Nielsen Chris P. 《Journal of Risk and Uncertainty》2019,58(2-3):167-186
Journal of Risk and Uncertainty - We estimate the marginal rate of substitution of income for reduction in current annual mortality risk (the “value per statistical life” or VSL) using... 相似文献
11.
Shelby Gerking Wiktor Adamowicz Mark Dickie Marcella Veronesi 《Journal of Risk and Uncertainty》2017,55(2-3):177-202
Empirical results presented in this paper suggest that parents’ marginal willingness to pay (MWTP) for a reduction in morbidity risk from heart disease is inversely related to baseline risk (i.e., the amount of risk initially faced) both for themselves and for their children. For instance, a 40% reduction from the mean of baseline risk results in an increase in MWTP by 70% or more. Thus, estimates of monetary benefits of public programs to reduce heart disease risk would be understated if the standard practice is followed of evaluating MWTP at initial risk levels and then multiplying this value by the number of cases avoided. Estimates are supported by: (1) unique quantitative information on perceptions of the risk of getting heart disease that allow baseline risk to be defined at an individual level and (2) improved econometric procedures to control for well-known difficulties associated with stated preference data. 相似文献
12.
James K. Hammitt 《Journal of Risk and Uncertainty》2013,47(3):311-325
The value of reducing health and mortality risks is often measured using value per statistical life (VSL) or one of several life-year measures (e.g., life years, quality-adjusted life years, disability-adjusted life years). I derive the utility function that is admissible when preferences for health and longevity, conditional on wealth, are consistent with any life-year measure (LYM) and examine the implications for marginal willingness to pay (WTP) for increases in health, longevity, and current-period survival probability. I conclude that marginal WTP for any LYM is decreasing and that VSL is increasing in the LYM. These results imply that cost-effectiveness analysis using a fixed monetary value per LYM is not consistent with economic welfare theory and that the benefit of a health improvement cannot be calculated by multiplying the change in a LYM by a constant. 相似文献
13.
James O’Brien 《Journal of Risk and Uncertainty》2018,56(1):51-81
The value of a statistical life (VSL) is used to assign a dollar value to the benefits of health and safety regulations. Many of those regulations disproportionately benefit older people, but most estimates of the VSL come from hedonic wage regressions with few older workers and no retirees. Using automobile purchase decisions, I estimate a VSL for individuals from the age of 18 up to the age of 85. Combining information on vehicle holdings and use, household attributes, used vehicle prices, crash test results, and yearly fatal accidents for each make, model, and vintage automobile, I calculate a separate willingness to pay for reduced mortality for different age groups. I find a significant inverted-U shape to the age-VSL function that ranges from $1.5 to $19.2 million (in 2009 dollars). The shape and magnitude of the vehicle-based age-VSL relationship corroborate labor market estimates and extend the age range of revealed preference evidence on the relationship between age and the VSL. 相似文献
14.
Joni Hersch 《Journal of Risk and Uncertainty》2018,57(2):111-131
Using data on sexual harassment charges filed with the Equal Employment Opportunity Commission, I calculate the risk of sexual harassment by gender, industry, and age and establish that white females, but not nonwhite females, receive a compensating wage differential for exposure to a higher risk of sexual harassment. I use this risk premium to calculate the value of statistical harassment (VSH) in a manner analogous to the calculation of the value of statistical life (VSL). The VSH is around $7.6 million, about three-quarters of the size of the most-commonly cited levels of the VSL, and far above the maximum damages award for sexual harassment available under federal law. Boosting the maximum damages award to equal the VSH would create the appropriate economic incentives for organizations to deter sexual harassment. 相似文献
15.
The value of mortality risk reductions in Delhi,India 总被引:2,自引:0,他引:2
Soma Bhattacharya Anna Alberini Maureen L. Cropper 《Journal of Risk and Uncertainty》2007,34(1):21-47
We interviewed commuters in Delhi, India, to estimate their willingness to pay (WTP) to reduce their risk of dying in road
traffic accidents in three scenarios that mirror the circumstances under which traffic fatalities occur in Delhi. The WTP
responses are internally valid: WTP increases with the size of the risk reduction, income, and exposure to road traffic risks,
as measured by length of commute and whether the respondent drives a motorcycle. As a result, the value of a statistical life
(VSL) varies across groups of beneficiaries. For the most highly-exposed individuals the VSL is about 150,000 Purchasing Power
Parity (PPP) dollars.
相似文献
Maureen L. CropperEmail: |
16.
U.S. labor market estimates of the value of a statistical life (VSL) were the first revealed preference estimates of the VSL in the literature and continue to constitute the majority of such market estimates. The VSL estimates in U.S. studies consequently may have established a reference point for the estimates that researchers analyzing data from other countries are willing to report and that journals are willing to publish. This article presents the first comparison of the publication selection biases in U.S. and international estimates using a sample of 68 VSL studies with over 1000 VSL estimates throughout the world. Publication selection biases vary across the VSL distribution and are greater for the larger VSL estimates. The estimates of publication selection biases distinguish between U.S. and international studies as well as between government and non-government data sources. Empirical estimates that correct for the impact of these biases reduce the VSL estimates, particularly for studies based on international data. This pattern of publication bias effects is consistent with international studies relying on U.S. estimates as an anchor for the levels of reasonable estimates. U.S. estimates based on the Census of Fatal Occupational Injuries constitute the only major set of VSL studies for which there is no evidence of statistically significant publication selection effects. Adjusting a baseline bias-adjusted U.S. VSL estimate of $9.6 million using estimates of the income elasticity of the VSL may be a sounder approach for generating international estimates of the VSL than relying on direct estimates from international studies. 相似文献
17.
18.
We examine heterogeneity of willingness to pay (WTP) to reduce risks of fatal disease and trauma to adults and children. Using
a stated-preference survey fielded to a large, nationally representative internet panel, we find that WTP to reduce fatal-disease
risks (caused by consuming pesticide residues on foods) are similar for several types of cancer and non-cancer diseases and
similar to WTP to reduce motor-vehicle crashes. WTP to reduce risk to one’s child is uniformly larger than to reduce risk
to another adult or to oneself. Estimated values per statistical life are $6–10 million for adults and $6–10 million for adults and 12–15 million for
children. 相似文献
19.
Individual and Household Values of Mortality Reductions with Intrahousehold Bargaining 总被引:1,自引:0,他引:1
I derive alternative measures of maximum willingness to pay (WTP) and value of statistical life (VSL) for selfish members of two-person households who bargain efficiently over consumption of individual and household goods. There is then no systematic bias in letting one member conduct the valuation on behalf of the household. Public-good VSL may exceed private-good VSL when each member attaches (selfish) preferences to survival of the spouse, and to any income from a surviving spouse in period 2. When period 2 is a retirement period and household members’ incomes are fixed, interview surveys tend to overvalue VSL due to ignored negative effects of own survival on private of public pension budgets.JEL Classification: I12, G22, J17 相似文献
20.
Valuing Mortality-Risk Reduction: Using Visual Aids to Improve the Validity of Contingent Valuation 总被引:5,自引:0,他引:5
Corso Phaedra S. Hammitt James K. Graham John D. 《Journal of Risk and Uncertainty》2001,23(2):165-184
We investigate the validity of contingent valuation (CV) estimates of the value per statistical life (VSL). We test for sensitivity of estimated willingness to pay (WTP) to the magnitude of mortality-risk reduction and for the theoretically predicted proportionality of WTP to risk reduction using alternative visual aids to communicate risk. We find that WTP is sensitive to the magnitude of risk reduction for independent subsamples of respondents presented with each of three alternative visual aids, but not for the subsample presented with no visual aid. Estimated WTP is consistent with proportionality to risk reduction for the subsamples presented with a logarithmic scale or an array of 25,000 dots, but not for the subsample receiving a linear scale. These results suggest that CV can provide valid estimates of WTP for mortality-risk reduction if appropriate methods are used to communicate the risk change to respondents. 相似文献