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Monetizing Bowser: A Contingent Valuation of the Statistical Value of Dog Life

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  • Carlson, Deven
  • Haeder, Simon
  • Jenkins-Smith, Hank
  • Ripberger, Joseph
  • Silva, Carol
  • Weimer, David

Abstract

Households in the USA spend about $70 billion annually on pets. Dogs, the most common pet, can be found in nearly half of American households. An important shadow price in the analysis of policies affecting human mortality is the value of statistical life (VSL), which is imputed from how people make decisions involving tradeoffs between small mortality risks and other goods. The value of statistical dog life (VSDL) is also an important, but until now unavailable, shadow price for use in regulation of such goods as pet foods and environmental toxins. Additionally, an estimate of the VSDL would have uses outside the regulatory process in valuing programs involving zooeyia, in setting tort awards for wrongful dog death, and in property divisions in divorce settlements where joint custody of dogs is not feasible. In order to estimate the VSDL, we conducted a contingent valuation of a national sample of dog owners that elicited willingness-to-pay for changes in mortality risk for pet dogs. Specifically, respondents were asked about willingness-to-pay for a vaccine that would reduce the risk of canine influenza. The design included both quantity (different magnitudes of risk reduction from the offered vaccine) and quality (differences in nature of death from the influenza) treatments as scope tests. It also included treatments involving spillover effects to other dogs and a priming question about disposable income. Based on the analysis and consideration of its assumptions, we recommend $10,000 as the VSDL.

Suggested Citation

  • Carlson, Deven & Haeder, Simon & Jenkins-Smith, Hank & Ripberger, Joseph & Silva, Carol & Weimer, David, 2019. "Monetizing Bowser: A Contingent Valuation of the Statistical Value of Dog Life," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 11(1), pages 131-149, November.
  • Handle: RePEc:cup:jbcoan:v:11:y:2019:i:1:p:131-149_11
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    Cited by:

    1. Thomas J. Kniesner & Ryan Sullivan, 2020. "The forgotten numbers: A closer look at COVID-19 non-fatal valuations," Journal of Risk and Uncertainty, Springer, vol. 61(2), pages 155-176, October.
    2. Leslie Richardson & Lynne Lewis, 2022. "Getting to know you: individual animals, wildlife webcams, and willingness to pay for brown bear preservation," American Journal of Agricultural Economics, John Wiley & Sons, vol. 104(2), pages 673-692, March.
    3. Lee, Juyong & Cho, Youngsang, 2023. "Economic value of the development of nuclear power plant decommissioning technology in South Korea," Energy Policy, Elsevier, vol. 181(C).

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