Willingness to Pay for Mortality Risk Reductions: Does Latency Matter?

Alan Krupnick (), Anna Alberini, Nathalie Simon and Maureen Cooper

RFF Working Paper Series from Resources for the Future

Abstract: Using results from two contingent valuation surveys conducted in Canada and the United States, we explore the effect of a latency period on willingness to pay (WTP) for reduced mortality risk using both structural and reduced form approaches. We find that delaying the time at which the risk reduction occurs by 10 to 30 years significantly reduces WTP for respondents aged 40 to 60 years. Additionally, we estimate implicit discount rates equal to 8% for Canada and 4.5% for the United States—both well within the range established previously in the literature.

Keywords: value of a statistical life; mortality risks; cost–benefit analysis (search for similar items in EconPapers)
JEL-codes: Q51 Q58 (search for similar items in EconPapers)
Date: 2004-04-09
New Economics Papers: this item is included in nep-env, nep-hea and nep-ias
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Related works:
Journal Article: Willingness to pay for mortality risk reductions: Does latency matter? (2006)
Working Paper: Willingness to Pay for Mortality Risk Reductions: Does Latency Matter? (2004)
Working Paper: Willingness to Pay for Mortality Risk Reductions: Does Latency Matter? (2004)
Working Paper: Willingness to Pay for Mortality Risk Reductions: Does Latency Matter? (2004)
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