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Article Dans Une Revue Journal of Risk and Uncertainty Année : 2004

Social willingness to pay, mortality risks and contingent valuation

Résumé

The Willingness-to-Pay approach is the basic justification for the use of the Contingent Valuation method to evaluate public mortality risk reduction programs. However, aggregating unweighted willingness-to-pay is a valid method only when individuals have the same marginal value of money, an unrealistic assumption in the presence of heterogeneity. We show that heterogeneity on wealth and baseline risk (respectively on risk reduction) leads to systematically overestimate (respectively underestimate) the social value of a risk reduction program. Using a recently published Contingent Valuation analysis, we find this overestimation to be quite modest though, approximately 15% in an upper bound case.

Dates et versions

hal-02679225 , version 1 (31-05-2020)

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Olivier Armantier, Nicolas N. Treich. Social willingness to pay, mortality risks and contingent valuation. Journal of Risk and Uncertainty, 2004, 29 (1), pp.7-19. ⟨10.1023/B:RISK.0000031442.60436.ea⟩. ⟨hal-02679225⟩
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