Paper Title:

Estimating The Value Of Mortality Risk Reduction For Environmental Policy In South Korea: A Benefit Transfer Test

Presenting Author: Young Chul Shin (DAEJIN UNIVERSITY)
Coauthor 1: Alan Krupnick
Coauthor 2: Seunghun Joh
Coauthor 3:
This study uses a slightly modified version of a contingent valuation questionnaire designed and developed by Krupnick et al.(1999) to estimate the value of mortality risk reduction for environmental policy. Because environmental policy, especially air pollution policy, may have its main effect on mortality risk reduction with some latency period, respondents were asked about their current WTP for 5/1,000 mortality risk reduction beginning at 70 over the course of ten years. The annual mean WTP is $154 and the implied VSL in South Korea is $310,000 (95% confidence interval $280,000 $370,000). These results are compared to results of the Krupnick et al survey applied in Canada, the U.S. and Japan and transferred to Korea using various assumptions about the income elasticity of the willingness to pay. As a result, we question the appropriateness of transferring the VSL from one country to another country, ignoring cultural differences.
Link to paper: Not available
Session / Day / Time 10F / Wednesday / 10:15 - 11:45 am
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