Valuation of small and multiple health risks: A critical analysis of SP data applied to food and water safety

Henrik Andersson, Arne Hole and Mikael Svensson

Journal of Environmental Economics and Management, 2016, vol. 75, issue C, 41-53

Abstract: This study elicits individual risk preferences in the context of an infectious disease using choice experiments. A main objective is to examine scope sensitivity using a novel approach. Our results suggest that the value of a mortality risk reduction (VSL) is highly sensitive to the survey design. Our results cast doubt on the standard scope sensitivity tests in choice experiments, but also on the validity and reliability of VSL estimates based on stated-preference studies in general. This is important due to the large empirical literature on non-market evaluation and the elicited values’ central role in policy making.

Keywords: Choice experiments; Morbidity risk; Mortality risk; Scope sensitivity; Time preferences; Willingness to pay (search for similar items in EconPapers)
JEL-codes: D61 H41 I18 Q51 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

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Related works:
Working Paper: Valuation of small and multiple health risks: A critical analysis of SP data applied to food and water safety (2014)
Working Paper: Valuation of Small and Multiple Health Risks: A Critical Analysis of SP Data Applied to Food and Water Safety (2014)
Working Paper: Valuation of small and multiple health risks: A critical analysis of SP data applied to food and water safety (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeeman:v:75:y:2016:i:c:p:41-53

DOI: 10.1016/j.jeem.2015.11.001

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