Mortality-risk Valuation and Age: Stated Preference Evidence
- 1 July 2007
- journal article
- Published by University of Chicago Press in Review of Environmental Economics and Policy
- Vol. 1 (2), 261-282
- https://doi.org/10.1093/reep/rem016
Abstract
Controversy over the value of statistical life (VSL) centers on whether a single value should be applied to all age groups, as currently done by US government agencies, or whether lower values should be used for the elderly, recognizing that their life expectancies are shorter than those of younger people. Surveys of different age groups' willingness to pay (WTP) for mortality-risk reductions can potentially help resolve this issue.Keywords
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