The impact of dread on the value of reducing fatal risks
Proceedings Publication Date
Susan Chilton
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Mortality and morbidity risks are routinely valued in central government regulatory analysis. This is often carried out within a cost-benefit framework, in which the benefits of reducing these risk are monetised and set against the costs to indicate whether the project should be carried out or not. The benefits are assessed either by sated preference studies (UK, some European countries) or revealed preference (wage-risk) studies. This presentation will present some evidence from primary and secondary studies to assess the impact of public perceptions and context e.g. dread, location etc. on these values