Monetary Values for Air Pollution Risk of Death: A Contingent Valuation Survey

Olivier CHANEL and Stephane Luchini ()
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Stephane Luchini: GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - Université de la Méditerranée - Aix-Marseille II - Université Paul Cézanne - Aix-Marseille III - Ecole des Hautes Etudes en Sciences Sociales - CNRS : UMR6579

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Abstract: In this paper, we extend the individual dynamic model of life-time resource allocation to assess the monetary value given to the increase in survival probabilities of every member of a household induced by improved air quality. We then interpret this monetary value as a flow of Value of Life Years Lost (VOLY), and estimate the corresponding Value of a Prevented Fatality (VPF) for different ages and different household members. Using French contingent valuation data on air pollution, we estimate a mean VOLY of Euros 150,000 and a mean VPFof Euros 2.15 million. In addition, we find an inverse U-shaped relationship between age and VPF.

Keywords: Value of statistical life; Air pollution; Familial Altruism; Contingent Valuation (search for similar items in EconPapers)
Date: 2008-04-11
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