Cancer premiums and latency effects: A risk tradeoff approach for valuing reductions in fatal cancer risks |
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| Authors: | George Van Houtven Melonie B. Sullivan Chris Dockins |
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| Affiliation: | (1) RTI International, 3040 Cornwallis Road, P.O. Box 12194, Research Triangle Park, NC 27709, USA;(2) Institute for Family Centered Services, Inc., Richmond, VA, USA;(3) US Environmental Protection Agency, Washington, DC, USA |
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| Abstract: | Many studies estimate individuals’ values for avoiding fatality risks; however, most value-of-statistical-life studies focus on accident-related deaths. Consequently, little is known about preferences for avoiding other fatal risks, such as cancer. Cancer may engender strong feelings of dread, leading to a “cancer premium,” but cancer latency periods may have the opposite effect. Using a national survey, we elicit relative preferences for avoiding fatal cancer and auto-accident risks. We find strong preferences for avoiding cancer risks. With a 5-year latency, they are valued roughly three times greater than immediate accident risks, declining to 50% greater for a 25-year latency. |
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| Keywords: | Value of statistical life Cancer risk Risk trade-off Latency |
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