ASSESSING WHETHER THERE IS A CANCER PREMIUM FOR THE VALUE OF A STATISTICAL LIFE
Version of Record online: 21 MAR 2013
Copyright © 2013 John Wiley & Sons, Ltd.
Volume 23, Issue 4, pages 384–396, April 2014
How to Cite
Viscusi, W. K., Huber, J. and Bell, J. (2014), ASSESSING WHETHER THERE IS A CANCER PREMIUM FOR THE VALUE OF A STATISTICAL LIFE. Health Econ., 23: 384–396. doi: 10.1002/hec.2919
- Issue online: 4 MAR 2014
- Version of Record online: 21 MAR 2013
- Manuscript Accepted: 15 FEB 2013
- Manuscript Revised: 20 NOV 2012
- Manuscript Received: 31 MAY 2012
- value of a statistical life (VSL);
- stated preference;
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 & Sons, Ltd.