EconPapers    
Economics at your fingertips  
 

Income Effects and the Value of Health

William Evans and W Viscusi

Journal of Human Resources, 1993, vol. 28, issue 3, 497-518

Abstract: Although valuations of risk should increase with income, hedonic wage studies have not been well suited to assessing this relationship. Using survey data on consumer valuations of product safety, this paper analyzes the role of income effects for several utility functions. The methodology developed in this paper assesses the effect of income on the certainty equivalent value of the health effect (income elasticities range from 0.18 to 0.39) and on the risk-money tradeoff for small changes in risk (income elasticities range from 0.17 to 0.38). Health status is a normal economic good.

Date: 1993
References: Add references at CitEc
Citations: View citations in EconPapers (18) Track citations by RSS feed

Downloads: (external link)
http://www.jstor.org/stable/pdfplus/146157
A subscripton is required to access pdf files. Pay per article is available.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:uwp:jhriss:v:28:y:1993:i:3:p:497-518

Access Statistics for this article

More articles in Journal of Human Resources from University of Wisconsin Press
Bibliographic data for series maintained by ().

 
Page updated 2019-07-20
Handle: RePEc:uwp:jhriss:v:28:y:1993:i:3:p:497-518