ASSESSING WHETHER THERE IS A CANCER PREMIUM FOR THE VALUE OF A STATISTICAL LIFE. (21st March 2013)

• Record Type: Journal Article
• Authors: Viscusi, W. Kip; Huber, Joel; Bell, Jason
• Is Part Of: Health economics. Volume 23:Number 4(2014:Apr.)
• Page Start: 384
• Page End: 396
• Publication Date: 2013-03-21
• Subjects: Medical economics -- Periodicals; Economics, Medical -- Periodicals; Health Care Costs -- Periodicals; Health Policy -- economics -- Periodicals; Health Services -- economics -- Periodicals; 362.1
• DOI: 10.1002/hec.2919
• Languages: English
• ISSNs: 1057-9230

Abstract

<abstract abstract-type="main"> <title>ABSTRACT</title> <p>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. Copyright © 2013 John Wiley &amp; Sons, Ltd.</p> </abstract>