Environmental Economics

The Value of Reducing Risks of Death: On New Evidence

Government agencies face difficult resource-allocation decisions when confronted with projects that will reduce risks of fatality. Evidence from individual behavior helps determine society's values for reducing risks. The most credible evidence is based on individuals' willingness to pay (or willingness to accept compensation) for small changes in risks. Studies of consumer behavior are limited, but more evidence is available relating wages to job risks. Contingent valuation studies reinforce the wage-risk implications, leading to a range of values that can be compared with the costs of proposals to reduce fatal risks.

See listing under published output for journal reference.

  • Keywords

    Subject:
    1. Benefits Analysis
    1. Benefits Analysis - Valuation
    1. Benefits Analysis - Valuation - Stated Preference
    1. Benefits Analysis - Valuation - Stated Preference - Contingent Valuation
    1. Benefits Analysis - Valuation - Revealed Preference
    1. Benefits Analysis - Valuation - Stated Preference - Non-contingent Valuation
    1. Benefits Analysis - Valuation - Revealed Preference - Wage Differential
    1. Benefits Analysis - Valuation - Revealed Preference - Consumption Choices
    Environmental Media:
    f. Multimedia
    Authors:
    Fisher, Ann
    Chestnut, Lauraine G.
    Violette, Daniel M.
    EPA Project Officer/ Manager:
    Carlin, Alan
    Geographic Area:
    Study Purpose:
    Empirical Application, Data Development
    Inventory Record #: PE-0028
  • Participating Organizations

    Research Organization:

    Environmental Protection Agency and
    RCG/Hagler, Bailly, Inc.
    Address:
    City: State: ZIP:
    Phone: Fax:
    E-mail:
  • Report Details
    Type:
    Final
    Date:
    01/01/1989
    Number of Pages:
    13
    Comment:
    Grant/Contract #:
    68-01-7047
  • How to Obtain Report


    Not available from EERM