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Journal article
Altruistic and Private Values For Saving Lives With an Oyster Consumption Safety Program
Risk analysis, Vol.40(11), pp.2413-2426
11/2020
PMID: 32654269
Web of Science ID: WOS:000547201900001
Abstract
We use data from an Internet-based survey and estimate the benefits of an oyster consumption safety policy with the contingent valuation method. In addition to providing a context-specific estimate of willingness-to-pay for oyster safety, we consider an important issue in the contingent valuation mortality risk reduction literature. A number of studies find that willingness-to-pay for mortality risk reduction is not sensitive to the scope of the risk change. We present the scope test as a difference in the number of lives saved by the program, instead of small changes in risk, and find that referendum votes are responsive to scope. A third feature of this article is that we identify those at-risk respondents who would most benefit from the policy and decompose willingness-to-pay into use values and altruistic nonuse values. We find that willingness-to-pay per life saved ranges from $3.95 million to$7.69 million for the private good of lives saved when the respondent is at risk (i.e., use values). Willingness-to-pay per life saved including both use and altruistic nonuse values ranges from $6.89 million to $12.87 million.
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Details
- Title
- Altruistic and Private Values For Saving Lives With an Oyster Consumption Safety Program
- Publication Details
- Risk analysis, Vol.40(11), pp.2413-2426
- Resource Type
- Journal article
- Copyright
- ©2020 Society for Risk Analysis
- Identifiers
- WOS:000547201900001; 99380171981106600
- Academic Unit
- Commerce; Lewis Bear Jr. College of Business
- Language
- English