Keywords
benefit-cost analysis; environmental regulation; illnesses; air pollution; HRQL; morbidity
Abstract
This study explores a novel method to calculate the willingness to pay (WTP) for individuals of the general population to reduce the risk of having an illness. The purpose of the study is to observe the implications of the possibility to produce more accurate value of a statistical case (VSC) estimates for usage in regulatory agencies and environmental economics within benefit cost analyses (BCA). By joining aspects from both BCA and cost effectiveness analysis (CEA), such as the health-related quality of life (HRQL), and the value of a statistical life (VSL), this research aims to provide a more precise framework for valuing morbidity risk reductions. The study’s findings demonstrate a trend of closely approximated values for existing WTP benchmarks derived from stated preference studies and highlight the implications of the cost of illness (COI) values underestimating the general population’s WTP for morbidity risk reduction in environmental-related illnesses, such as chronic kidney disease, asthma, chronic bronchitis, and cardiovascular disease.
Thesis Completion Year
2025
Thesis Completion Semester
Spring
Thesis Chair
Dickie, Mark
College
College of Business
Department
Economics
Thesis Discipline
Economics
Language
English
Access Status
Open Access
Length of Campus Access
None
Campus Location
Orlando (Main) Campus
STARS Citation
Drewry, Madison G., "Exploring the Potential Use of Health-State Indexes to Improve Estimates of Health Benefits of Environmental Regulation" (2025). Honors Undergraduate Theses. 343.
https://stars.library.ucf.edu/hut2024/343
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