Valuing Mortality Risk Reductions: Progress and Challenges

Maureen Cropper, James Hammitt and Lisa Robinson ()

Annual Review of Resource Economics, 2011, vol. 3, issue 1, 313-336

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 stated-preference 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.

Keywords: value of a statistical life; regulatory analysis; hedonic wage studies; stated-preference studies (search for similar items in EconPapers)
JEL-codes: Q50 Q51 Q58 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (55)

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Related works:
Working Paper: Valuing Mortality Risk Reductions:Progress and Challenges (2011)
Working Paper: Valuing Mortality Risk Reductions: Progress and Challenges (2011)
Working Paper: Valuing Mortality Risk Reductions: Progress and Challenges (2011)
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