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Economic Uncertainties in Valuing Reductions in Children's Environmental Health Risks

Alan Krupnick (), Sandra Hoffmann and Wiktor Adamowicz ()

Discussion Papers from Resources For the Future

Abstract: The recognition that environmental hazards can affect children differently and more severely than adults has provoked growing concern in industrialized nations about the impact of environmental pollution on children’s health. In this paper, commissioned by the OECD, we are charged with examining “economic uncertainties” associated with valuing the benefits of environmental policies that reduce risk to children’s health. We examine two sources of uncertainty in benefits estimation: forecasting uncertainty and modeling uncertainty. We explore how these sources of uncertainty affect the use of standard economic and non-economic approaches to the valuation of health benefits. These include willingness-to-pay measures, cost-of-illness and human-capital measures, and quality-adjusted life years (QALYs) and related non-economic measures.

Keywords: willingness to pay; QALY; children; social welfare function; health valuation; environmental health; household behavior (search for similar items in EconPapers)
JEL-codes: Q51 I18 I1 J17 D13 D6 D63 D64 (search for similar items in EconPapers)
Date: 2005-12-15
New Economics Papers: this item is included in nep-hea
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