Valuing Reductions in Environmental Risks to Children's Health

    Authors

    S. Gerking;M. Dickie

    Comments

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    Abbreviated Journal Title

    Annu. Rev. Resour. Econ

    Keywords

    mortality risk; morbidity risk; parents' marginal willingness to pay; environmental hazards; WILLINGNESS-TO-PAY; CONTINGENT VALUATION; PARENTAL ALTRUISM; AIR-POLLUTION; BENEFITS; DEMAND; SAFETY; INFERENCES; EXPOSURE; ASTHMA; Economics; Environmental Studies

    Abstract

    This article reviews the economics literature dealing with valuation of reduced environmental risks to children's health. We describe conceptual models together with results from a number of empirical studies. The conceptual models analyze valuation issues from the perspective of parents; treat health risk as endogenously determined; and demonstrate that in equilibrium, marginal willingness to pay to reduce risk for the child relative to marginal willingness to pay to reduce risk for the parent should equal the ratio of marginal risk reduction costs. Empirical studies treat both mortality and morbidity associated with exposure to environmental health risks. These studies generally find that parents are willing to pay more for absolute risk reductions for their children than they are willing to pay for corresponding risk reductions for themselves. Possible reasons for this outcome along with suggestions for further research are discussed.

    Journal Title

    Annual Review of Resource Economics, Vol 5

    Volume

    5

    Publication Date

    1-1-2013

    Document Type

    Article; Book Chapter

    Language

    English

    First Page

    245

    Last Page

    260

    WOS Identifier

    WOS:000326687100014

    ISSN

    1941-1340

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