Health Econ. 2013 Mar 21. doi: 10.1002/hec.2919. [Epub ahead of print]
ASSESSING WHETHER THERE IS A CANCER PREMIUM FOR THE VALUE OF A STATISTICAL LIFE.
Source
University Distinguished Professor of Law, Economics, and Management, Vanderbilt University, Nashville, TN, USA.
Abstract
This article estimates whether there is a cancer risk premium for the value of a statistical life using stated preference valuations of cancer risks for a large, nationally representative US sample. The present value of an expected cancer case that occurs after a one decade latency period is $10.85m, consistent with a cancer premium that is 21% greater than the median value of a statistical life estimates for acute fatalities. This cancer premium is smaller than the premium proposed for policy analyses in the UK and the USA. There is also a greater premium for policies that reduce cancer risks to zero and for risk reductions affecting those who perceive themselves to have a greater than average probability of having cancer.
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