An investigation into procedural (in)variance in the valuation of mortality risk reductions
Jytte Seested Nielsen and
Arne Hole ()
Journal of Environmental Economics and Management, 2018, vol. 89, issue C, 278-284
This study investigates whether elicited preferences are affected by the presentation of mortality risks in a stated preference survey. We elicited willingness to pay for public risk reducing initiatives under three different but outcome equivalent presentation format. Results from a discrete choice experiment demonstrate that presentation format influences the valuation of mortality risk reductions, which to varying degrees depends on the respondent's level of concern and numeracy. Marginal willingness to pay for a risk reduction increases significantly when framed in terms of avoided fatalities compared to corresponding frequencies. Furthermore, we find that less numerate respondents are more influenced by the inclusion of the number of fatalities in the presentation format. The same pattern is observed for respondents who express a higher degree of concern for a traffic accident.
Keywords: Discrete choice experiment; Framing; Mortality risk; Procedural invariance; Public policy; Stated preferences; Willingness to pay (search for similar items in EconPapers)
JEL-codes: J17 D6 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeeman:v:89:y:2018:i:c:p:278-284
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Journal of Environmental Economics and Management is currently edited by M.A. Cole, A. Lange, D.J. Phaneuf, D. Popp, M.J. Roberts, M.D. Smith, C. Timmins, Q. Weninger and A.J. Yates
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