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A note on parental and child risk valuation

Author

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  • Stefanos Nastis
  • Thomas Crocker

Abstract

The paper develops a model that allows the estimation of parent’s valuation of own and child health, in an endogenous risk framework, where parents can employ multiple activities to protect themselves and their children from a health risk. These risk-reducing activities may differ in their effectiveness and their intensity of use. We suggest how to estimate the parent’s ex ante marginal willingness-to-pay for a reduction in the ambient level of health risk, unencumbered by expected utility terms. Copyright Springer Science+Business Media, Inc. 2007

Suggested Citation

  • Stefanos Nastis & Thomas Crocker, 2007. "A note on parental and child risk valuation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 38(1), pages 119-134, September.
    • Handle: RePEc:kap:enreec:v:38:y:2007:i:1:p:119-134
    DOI: 10.1007/s10640-006-9060-9
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    References listed on IDEAS

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    Cited by:

    1. Andrea Leiter & Gerald Pruckner, 2009. "Proportionality of Willingness to Pay to Small Changes in Risk: The Impact of Attitudinal Factors in Scope Tests," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 42(2), pages 169-186, February.
    2. Irene Mussio & Sylvia Brandt & Michael Hanemann, 2021. "Parental beliefs and willingness to pay for reduction in their child's asthma symptoms: A joint estimation approach," Health Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 129-143, January.

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    More about this item

    Keywords

    Child health; Endogenous risk; Risk valuation; D1; Q2;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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