Valuing Mortality Risk Reductions: Progress and Challenges

Resources for the Future Discussion Paper No. 11-10

34 Pages Posted: 19 Mar 2011

See all articles by Maureen Cropper

Maureen Cropper

University of Maryland - Department of Economics; Resources for the Future

James K. Hammitt

Harvard University

Lisa A. Robinson

Harvard University, Center for Health Decision Science; Harvard University, Center for Risk Analysis

Multiple version iconThere are 3 versions of this paper

Date Written: March 17, 2011

Abstract

The value of mortality risk reduction is an important component of the benefits of environmental policies. In recent years, the number, scope, and quality of valuation studies have increased dramatically. Revealed preference studies of wage compensation for occupational risks, on which analysts have primarily relied, have benefited from improved data and statistical methods. Stated preference research has improved methodologically and expanded dramatically. Studies are now available for several health conditions associated with environmental causes, and researchers have explored many issues concerning the validity of the estimates. With the growing numbers of both types of studies, several meta-analyses have become available that provide insight into the results of both methods. Challenges remain, including better understanding of the persistently smaller estimates from stated preference than from wage differential studies and of how valuation depends on the individual’s age, health status, and characteristics of the illnesses most frequently associated with environmental causes.

Keywords: value of a statistical life, mortality risk reduction, hedonic wage studies, stated preference studies

JEL Classification: Q50, Q51, Q58

Suggested Citation

Cropper, Maureen L. and Hammitt, James K. and Robinson, Lisa A., Valuing Mortality Risk Reductions: Progress and Challenges (March 17, 2011). Resources for the Future Discussion Paper No. 11-10. Available at SSRN: https://ssrn.com/abstract=1788975 or http://dx.doi.org/10.2139/ssrn.1788975

Maureen L. Cropper (Contact Author)

University of Maryland - Department of Economics

College Park, MD 20742
United States

Resources for the Future ( email )

1616 P Street, NW
Washington, DC 20036
United States

James K. Hammitt

Harvard University ( email )

718 Huntington Avenue
Boston, MA 02115
United States
617-432-4343 (Phone)
617-432-0190 (Fax)

Lisa A. Robinson

Harvard University, Center for Health Decision Science ( email )

718 Huntington Avenue
Harvard T.H. Chan School of Public Health
Boston, MA 02115
United States

HOME PAGE: http://https://www.hsph.harvard.edu/lisa-robinson/

Harvard University, Center for Risk Analysis ( email )

Harvard T.H. Chan School of Public Health
718 Huntington Avenue
Boston, MA 02115
United States

HOME PAGE: http://https://www.hsph.harvard.edu/lisa-robinson/

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