Title
Valuing Reductions In Environmental Risks To Children'S Health
Keywords
Environmental hazards; Morbidity risk; Mortality risk; Parents' marginal willingness to pay
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. © 2013 by Annual Reviews.
Publication Date
6-1-2013
Publication Title
Annual Review of Resource Economics
Volume
5
Number of Pages
245-260
Document Type
Article
Personal Identifier
scopus
DOI Link
https://doi.org/10.1146/annurev-resource-091912-151940
Copyright Status
Unknown
Socpus ID
84886904775 (Scopus)
Source API URL
https://api.elsevier.com/content/abstract/scopus_id/84886904775
STARS Citation
Gerking, Shelby and Dickie, Mark, "Valuing Reductions In Environmental Risks To Children'S Health" (2013). Scopus Export 2010-2014. 7028.
https://stars.library.ucf.edu/scopus2010/7028