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Author: Nathalie G. Schwab Christe Publisher: Springer Science & Business Media ISBN: 9401106657 Category : Business & Economics Languages : en Pages : 198
Book Description
Over the past two decades, economic theory has extended its field of application to non-market goods such as environmental resources and health. Although it is impossible to assign a price to these goods on the basis of market mechanisms alone, the fact that they have no price does not mean that they have no value. One technique in which economists have shown a marked interest is the contingent valuation method (CVM), which has mainly been used to assign a monetary value to environmental goods. It was first applied to natural resources used for recreational purposes. CVM has been applied to health only recently, so that studies in this field are relatively more scarce than those dealing with the environment, although several valuation methodology surveys are available. There has hitherto been no book which has drawn together and analyzed recent contingent valuations in the field of transport accidents. Contingent Valuation, Transport Safety and the Value of Life provides an overview of the experiments conducted in Europe (Denmark, France, the U.K., Sweden and Switzerland). While a number of contributions are critical, others show how the estimates obtained in the area of road transport can be used to assess the adverse health effects of other causes, such as public transport accidents or air pollution.
Author: Nathalie G. Schwab Christe Publisher: Springer Science & Business Media ISBN: 9401106657 Category : Business & Economics Languages : en Pages : 198
Book Description
Over the past two decades, economic theory has extended its field of application to non-market goods such as environmental resources and health. Although it is impossible to assign a price to these goods on the basis of market mechanisms alone, the fact that they have no price does not mean that they have no value. One technique in which economists have shown a marked interest is the contingent valuation method (CVM), which has mainly been used to assign a monetary value to environmental goods. It was first applied to natural resources used for recreational purposes. CVM has been applied to health only recently, so that studies in this field are relatively more scarce than those dealing with the environment, although several valuation methodology surveys are available. There has hitherto been no book which has drawn together and analyzed recent contingent valuations in the field of transport accidents. Contingent Valuation, Transport Safety and the Value of Life provides an overview of the experiments conducted in Europe (Denmark, France, the U.K., Sweden and Switzerland). While a number of contributions are critical, others show how the estimates obtained in the area of road transport can be used to assess the adverse health effects of other causes, such as public transport accidents or air pollution.
Author: Raymond J. Kopp Publisher: Springer Science & Business Media ISBN: 9401153647 Category : Business & Economics Languages : en Pages : 337
Book Description
Contingent valuation (CV) measures what is called passive use value or existence value. The CV method has been used to measure the benefits of environmental policy actions. CV measures of economic value rely on choice. In CV studies, choices are posed to people in surveys; analysts then use the responses to these choice questions to construct monetary measures of value. The specific mechanism used to elicit respondents' choices can take a variety of forms, including asking survey respondents whether they would purchase, vote, or pay for a program or some other well-defined object of choice. It can also be a direct elicitation of the amount each respondent would be willing to pay (WTP) to obtain an object of choice or the amount each respondent would be willing to accept (WTA) in compensation to give it up. This volume is composed of three sections. The first section provides background into the issues underlying the public and academic discussion regarding CV and the reliability of CV estimates of economic value. In addition, this section reviews the theory underlying the measurement of economic value and discusses those aspects of the theory most relevant to CV. The second section focuses on issues that have formed the core of the CV discussions including: sensitivity of WTP estimates to the size of the program offered, tests for theoretical consistency of CV results, and the sensitivity of results to context and numerous other features of the survey and its administration. The final section addresses the application of CV to actual economic valuation tasks and discusses the types of practical problems the CV researcher will encounter.
Author: Robert Cameron Mitchell Publisher: Routledge ISBN: 1135887810 Category : Technology & Engineering Languages : en Pages : 460
Book Description
Economists and others have long believed that by balancing the costs of such public goods as air quality and wilderness areas against their benefits, informed policy choices can be made. But the problem of putting a dollar value on cleaner air or water and other goods not sold in the marketplace has been a major stumbling block. Mitchell and Carson, for reasons presented in this book, argue that at this time the contingent valuation (CV) method offers the most promising approach for determining public willingness to pay for many public goods---an approach likely to succeed, if used carefully, where other methods may fail. The result of ten years of research by the authors aimed at assessing how surveys might best be used to value public goods validly and reliably, this book makes a major contribution to what constitutes best practice in CV surveys. Mitchell and Carson begin by introducing the contingent valuation method, describing how it works and the nature of the benefits it can be used to measure, comparing it to other methods for measuring benefits, and examining the data-gathering technique on which it is based---survey research. Placing contingent valuation in the larger context of welfare theory, the authors examine how the CV method impels a deeper understanding of willingness-to-pay versus willingness-to-accept compensation measures, the possibility of existence values for public goods, the role of uncertainty in benefit valuation, and the question of whether a consumer goods market or a political goods market (referenda) should be emulated. In developing a CV methodology, the authors deal with issues of broader significance to survey research. Their model of respondent error is relevant to current efforts to frame a theory of response behavior and bias typology will interest those considering the cognitive aspects of answering survey questions. Mitchell and Carson conclude that the contingent valuation method can obtain valid valuation information on public goods, but only if the method is applied in a way that addresses the potential sources of error and bias. They end their book by providing guidelines for CV practitioners, a list of questions that should be asked by any decision maker who wishes to use the findings of a CV study, and suggestions for new applications of contingent valuation. Additional features include a comprehensive bibliography of the CV literature and an appendix summarizing more than 100 CV studies.
Author: Jagadish Guria Publisher: Elsevier ISBN: 0128126124 Category : Transportation Languages : en Pages : 209
Book Description
Estimating the Human Cost of Transportation Accidents: Methodologies and Policy Implications discusses the estimation methods needed to determine the monetary value of loss of life and quality of life when evaluating transportation safety programs, policies and projects. In addition, it highlights how to overcome the many challenges researchers face in choosing the right values, including estimating loss of life and life quality, examining strengths and weaknesses, and critically analyzing social costs and implications. This book will allow researchers to better formulate accurate social costs, select safety improvement values, and understand limitations. Provides a comprehensive, theoretical, one-stop reference on non-market valuation methodologies, issues and policy implications for transportation health, safety and economics researchers Helps researchers better evaluate the actual total cost of road safety programs, policies and projects, including life quality valuation due to environmental impacts, such as harmful vehicle emissions Provides valuable case studies from around the globe
Author: W. Kip Viscusi Publisher: Princeton University Press ISBN: 069120859X Category : Business & Economics Languages : en Pages : 289
Book Description
How society’s undervaluing of life puts all of us at risk—and the groundbreaking economic measure that can fix it Like it or not, sometimes we need to put a monetary value on people's lives. In the past, government agencies used the financial "cost of death" to monetize the mortality risks of regulatory policies, but this method vastly undervalued life. Pricing Lives tells the story of how the government came to adopt an altogether different approach--the value of a statistical life, or VSL—and persuasively shows how its more widespread use could create a safer and more equitable society for everyone. In the 1980s, W. Kip Viscusi used the method to demonstrate that the benefits of requiring businesses to label hazardous chemicals immensely outweighed the costs. VSL is the risk-reward trade-off that people make about their health when considering risky job choices. With it, Viscusi calculated how much more money workers would demand to take on hazardous jobs, boosting calculated benefits by an order of magnitude. His current estimate of the value of a statistical life is $10 million. In this book, Viscusi provides a comprehensive look at all aspects of economic and policy efforts to price lives, including controversial topics such as whether older people's lives are worth less and richer people's lives are worth more. He explains why corporations need to abandon the misguided cost-of-death approach, how the courts can profit from increased application of VSL in assessing liability and setting damages, and how other countries consistently undervalue risks to life. Pricing Lives proposes sensible economic guideposts to foster more protective policies and greater levels of safety in the United States and throughout the world.
Author: Soma Bhattacharya Publisher: World Bank Publications ISBN: Category : Life expectancy Languages : en Pages : 45
Book Description
"The authors interviewed commuters in Delhi, India, asking them to report their willingness to pay (WTP) to reduce their risk of dying in road traffic accidents in each of three scenarios that mirror the circumstances under which the majority of the road fatalities in Delhi occur. The WTP responses are internally valid, in the sense that WTP increases with the size of the risk reduction, income, and exposure to road traffic risks, as measured by length of commute and whether the respondent drives a two-wheeler. As a result, the "value of a statistical life" (VSL) is individuated-that is, it varies across groups of beneficiaries. For the most likely beneficiaries of road safety programs-the most highly exposed individuals-the VSL is about 150,000 PPP$. "--World Bank web site.
Author: OECD Publisher: OECD Publishing ISBN: 9264130802 Category : Languages : en Pages : 143
Book Description
The book presents a major meta-analysis of 'value of a statistical life' (VSL) estimates derived from surveys where people around the world have been asked about their willingness to pay for small reduction in mortality risks.
Author: R. Carson Publisher: Edward Elgar Publishing ISBN: 085793628X Category : Business & Economics Languages : en Pages : 464
Book Description
This major reference work the first of its kind provides a comprehensive and authoritative introduction to the large and growing literature on contingent valuation. It includes entries on over 7,500 contingent valuation papers and studies from over 130 countries covering both the published and grey literatures. This book provides an interpretive historical account of the development of contingent valuation, the most commonly used approach to placing a value on goods not normally sold in the marketplace. The major fields catalogued here include culture, the environment, and health application. This bibliography is an ideal starting point for researchers wanting to find other studies that have valued goods or used techniques similar to those they are interested in. For those wanting to conduct meta analyses, the book will serve as an invaluable guide to source material. For those wanting to conduct meta analyses, the book will serve as an invaluable guide to source material. In addition to the print edition we offer access, for purchasers of the book, to a website providing the contents of as a searchable Word document and in a variety of standard bibliographic database forms. Contingent Valuation is an indispensable reference source for researchers, scholars and policymakers concerned with survey approaches to the problem of environmental valuation.
Author: Nathalie G. Schwab Christe
Author: Nathalie G. Schwab Christe
Author: N. G. Schwab Christe
Author: Raymond J. Kopp
Author: Robert Cameron Mitchell
Author: Jagadish Guria
Author: W. Kip Viscusi
Author: Soma Bhattacharya
Author: W. R. Dubourg
Author: OECD
Author: R. Carson