Publication:
The Value of Statistical Life : A Contingent Investigation in China

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dc.contributor.authorWang, Hua
dc.contributor.authorHe, Jie
dc.date.accessioned2012-03-19T18:41:54Z
dc.date.available2012-03-19T18:41:54Z
dc.date.issued2010-09-01
dc.description.abstractEconomic analyses of development projects and policies often involve assigning an economic value to changes in the risk of loss of human life. A typical term used in the economic analyses is the value of statistical life, which reflects the aggregation of individuals' willingness to pay for fatal risk reduction and therefore the economic value to society to reduce the statistical incidence of premature death in the population by one. Studies on the value of a statistical life have been extensively conducted in the developed world; however, few such studies can be found for developing countries. This paper presents a study that estimates individuals' willingness to pay for cancer risk prevention in three provinces of China. The results imply that the mean value of willingness to pay for a cancer vaccine that is effective for one year is 759 yuan, with a much lower median value of 171 yuan. The estimated income elasticity of willingness to pay is 0.42. Using data on the incidence of cancer illness and death in the population, these willingness to pay figures imply that the marginal value of reducing the anticipated incidence of cancer mortality by one in the population is 73,000 yuan and an average value of 795,000 yuan, which are about six and 60 times average household annual income, respectively. The big difference between the marginal value and the average value of fatal risk reduction corresponds to a very low estimated elasticity of willingness to pay with respect to fatal risk reduction. This finding challenges the validity of previous studies of the value of a statistical life, which are mostly based on average willingness-to-pay values of mortality risk reduction.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100916110936
dc.identifier.doi10.1596/1813-9450-5421
dc.identifier.urihttps://hdl.handle.net/10986/3905
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5421
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABATEMENT
dc.subjectADULT HEALTH
dc.subjectAGED
dc.subjectAIR POLLUTION
dc.subjectAIR POLLUTION CONTROL
dc.subjectAIR QUALITY
dc.subjectBENCHMARK
dc.subjectBENEFIT ANALYSIS
dc.subjectBIG CITIES
dc.subjectBORROWING
dc.subjectBUDGET CONSTRAINTS
dc.subjectCANCER
dc.subjectCONSUMER SURPLUS
dc.subjectCONTINGENT VALUATION
dc.subjectCONTINGENT VALUATION METHOD
dc.subjectCORRECT ESTIMATES
dc.subjectDEMAND CURVES
dc.subjectDEMOGRAPHICS
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY CONTEXT
dc.subjectDEVELOPMENT PROJECTS
dc.subjectDICHOTOMOUS CHOICE
dc.subjectDURABLE GOODS
dc.subjectECOLOGICAL ECONOMICS
dc.subjectECONOMETRIC ANALYSIS
dc.subjectECONOMIC COSTS
dc.subjectECONOMIC VALUE
dc.subjectECONOMICS
dc.subjectELASTICITY
dc.subjectEMPIRICAL STUDIES
dc.subjectENVIRONMENTAL
dc.subjectENVIRONMENTAL ECONOMICS
dc.subjectENVIRONMENTAL HEALTH
dc.subjectENVIRONMENTAL MANAGEMENT
dc.subjectENVIRONMENTAL PROTECTION
dc.subjectENVIRONMENTAL QUALITY
dc.subjectEXPECTED UTILITY
dc.subjectEXPECTED VALUE
dc.subjectEXPENDITURES
dc.subjectFAMILIES
dc.subjectFAMILY INCOME
dc.subjectFEMALE MORTALITY
dc.subjectFUNCTIONAL FORMS
dc.subjectHEALTH EFFECTS
dc.subjectHEALTH IMPACT
dc.subjectHEALTH RISKS
dc.subjectHIGH UNEMPLOYMENT
dc.subjectHOSPITAL
dc.subjectHUMAN CAPITAL
dc.subjectHUMAN HEALTH
dc.subjectHUMAN LIFE
dc.subjectILLNESS
dc.subjectINCENTIVE EFFECTS
dc.subjectINCOME
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLAND ECONOMICS
dc.subjectLEVELS OF MORTALITY
dc.subjectMARGINAL VALUE
dc.subjectMAXIMUM LIKELIHOOD ESTIMATION
dc.subjectMETAANALYSIS
dc.subjectMETHOD CHOICES
dc.subjectMORBIDITY
dc.subjectMORTALITY
dc.subjectMORTALITY RATE
dc.subjectMORTALITY REDUCTION
dc.subjectMORTALITY RISK
dc.subjectOCCUPATIONAL SAFETY
dc.subjectPATIENTS
dc.subjectPER CAPITA INCOME
dc.subjectPOLICY CHANGE
dc.subjectPOLICY RESEARCH
dc.subjectPOLICY RESEARCH WORKING PAPER
dc.subjectPOLLUTION CONTROL
dc.subjectPOLLUTION REDUCTION
dc.subjectPREMATURE DEATH
dc.subjectPRESENT VALUE
dc.subjectPRICE INCREASES
dc.subjectPROGRESS
dc.subjectPUBLIC HEALTH
dc.subjectPUBLIC SERVICES
dc.subjectRESPECT
dc.subjectRESPIRATORY DISEASES
dc.subjectRISK OF DEATH
dc.subjectRURAL AREAS
dc.subjectSECONDARY SCHOOL
dc.subjectSEX
dc.subjectSIDE EFFECTS
dc.subjectSMOKING
dc.subjectSOCIAL SECURITY
dc.subjectSTATISTICAL ANALYSIS
dc.subjectTRADEOFFS
dc.subjectTRANSPORTATION
dc.subjectUNEMPLOYMENT RATES
dc.subjectURBAN AREAS
dc.subjectUTILITY FUNCTION
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWILLINGNESS TO PAY
dc.subjectWORKERS
dc.subjectWTP
dc.titleThe Value of Statistical Life : A Contingent Investigation in Chinaen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleThe value of statistical life : a contingent investigation in China
okr.date.disclosure2010-09-01
okr.date.doiregistration2025-04-10T11:42:29.974134Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100916110936
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeHealth, Nutrition, and Population
okr.guid262791468218406299
okr.identifier.doi10.1596/1813-9450-5421
okr.identifier.externaldocumentum000158349_20100916110936
okr.identifier.internaldocumentum12766640
okr.identifier.reportWPS5421
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/09/16/000158349_20100916110936/Rendered/PDF/WPS5421.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina
okr.region.geographicalEast Asia
okr.region.geographicalAsia
okr.sectorWater supply,Solid waste management,Media,Health,General public administration sector
okr.sectorWater, sanitation and flood protection,Information and communications,Health and other social services,Public Administration, Law, and Justice
okr.topicSocial Protections and Labor::Labor Policies
okr.topicHealth, Nutrition and Population::Population Policies
okr.topicHealth, Nutrition and Population
okr.unitDevelopment Research Group (DECRG)
okr.unitDECRG: Agriculture & Rural Devt. (DECAR)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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