Cancer premiums and latency effects: A risk tradeoff approach for valuing reductions in fatal cancer risks

Houtven, George Van; Sullivan, Melonie B.; Dockins, Chris

doi:10.1007/s11166-008-9032-2

Cited by 56 publications

(66 citation statements)

References 23 publications

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“…Turning to the stated preference literature, evidence in support of a cancer premium can be found in an early study by Van Houtven et al (2008) as well as in Scasny (2010) and. These studies find, respectively, premia of 3:1 (for a latency of 5 years, dropping to 1.5 when the latency period increases to 25 years in the US), 2:1 (Italy) and 2.5:1 (Czech Republic).…”

Section: Context Latency and Cancer Risksmentioning

confidence: 97%

“…The Risk-Risk trade-off method, developed by Viscusi et al (1991), and extended in Magat et al (1996) and Van Houtven et al (2008), allows respondents to compare risks of fatality in one cause with risks of fatality in another, thereby avoiding the need for complex money-risk trades that are necessary for standard contingent valuation. It also reduces the likelihood of scope insensitivity problems as documented in Jones-Lee et al (1985) or Beattie et al (1998).…”

Section: Risk-risk Trade-offsmentioning

confidence: 99%

“…It also reduces the likelihood of scope insensitivity problems as documented in Jones-Lee et al (1985) or Beattie et al (1998). The method provides a measure of the strength of preference for avoiding specified risks, and has been shown by Van Houtven et al (2008) to be viable in investigating preferences over cancer fatalities.…”

Section: Risk-risk Trade-offsmentioning

confidence: 99%

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Dread and latency impacts on a VSL for cancer risk reductions

et al. 2016

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We propose a structural relationship between the value of preventing a statistical cancer fatality and the value of statistical life (VSL) for risks of an instantaneous road accident fatality. This relationship incorporates a context effect reflecting both the illness or 'morbidity' associated with cancer fatality and the 'dread' or horror associated with the prospect of eventual death from cancer, as well as a latency effect that captures the discounting likely to arise because the onset of the symptoms of cancer typically occurs after some delay. We use a Risk-Risk trade-off study to validate this model by directly estimating the influence of context and latency effects upon the relative size of the VSL for cancer and for road accidents, confirming that both effects are significant and estimating their size using regression analysis. We show that morbidity accounts for the majority of the context premium. We use the elicited coefficients to reconstruct VSL estimates for a range of cancers characterised by their latency and morbidity periods.

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Section: Context Latency and Cancer Risksmentioning

confidence: 97%

Section: Risk-risk Trade-offsmentioning

confidence: 99%

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Dread and latency impacts on a VSL for cancer risk reductions

et al. 2016

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“…We compute the VSL and VSCC based on the estimated 1 δ , 2 δ and 3 δ , respectively, for a total of three sets of such metrics, and examine whether they are similar or very different from one another.…”

Section: Robustness Checksmentioning

confidence: 99%

“…Several risk-risk tradeoff studies have indeed found that people favor programs that reduce cancer mortality (e.g. Jones-Lee et al, 1985;Mendeloff and Kaplan, 1989;McDaniels et al, 1992;Savage, 1993;Tolley et al, 1994;Magat et al, 1996;Van Houtven et al, 2008). Stated-preference valuation studies have found either i) little evidence that the cancer VSL is higher than the VSL for other causes of death (Hammitt and Liu, 2004;Hammitt and Haninger, 2010;Chestnut et al, 2012), ii) modest cancer "discounts" (Tsuge et al, 2005, andAdamowicz et al, 2011), or iii) large variations associated with different causes of death (cancer, respiratory disease, road traffic accidents), resulting in cancer premia of 90-156% (Alberini and Ščasný, 2011;.…”

Section: Introductionmentioning

confidence: 99%

The benefits of avoiding cancer (or dying from cancer): Evidence from a four- country study

Alberini

Ščasný

2018

Journal of Health Economics

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Abstract. We use stated-preference methods to estimate the cancer Value per Statistical Life (VSL) and Value per Statistical Case (VSCC) from a representative sample of 45-60-year olds in four countries in Europe. We ask respondents to report information about their willingness to pay for health risk reductions that are different from those used in earlier valuation work because they are comprised of two probabilities-that of getting cancer, and that of dying from it (conditional on getting it in the first place). The product of these two probabilities is the unconditional cancer mortality risk. Our hypothetical risk reductions also include two qualitative attributes-quality-of-life impacts and pain. The results show that respondents did appear to have an intuitive grasp of compound probabilities, and took into account each component of the unconditional cancer mortality risk when answering the valuation questions. We estimate the cancer VSL to be between € 1.9 and 5.7 million, depending on whether the (unconditional) mortality risk was reduced by lowering the chance of getting cancer, increasing the chance of surviving cancer, or both. The VSCC is estimated to be up to € 0.550 million euro, and its magnitude depends on the initial (conditional) cancer mortality and on the improvement in survival. We interpret these as "pure" mortality and cancer risk values, stripped of morbidity, pain or quality-of-life effects. The survey responses show that impacts on daily activities and pain have little or no effect on the WTP to reduce the adverse health risks.

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Assessing Whether There Is a Cancer Premium for the Value of a Statistical Life

2013

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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.

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Cancer premiums and latency effects: A risk tradeoff approach for valuing reductions in fatal cancer risks

Abstract: Value of statistical life, Cancer risk, Risk trade-off, Latency, D81, I18, J17,

Cited by 56 publications

References 23 publications

Dread and latency impacts on a VSL for cancer risk reductions

Dread and latency impacts on a VSL for cancer risk reductions

The benefits of avoiding cancer (or dying from cancer): Evidence from a four- country study

Assessing Whether There Is a Cancer Premium for the Value of a Statistical Life

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