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MORTALITY RISK VALUATION AND STATED PREFERENCE METHODS: AN EXPLORATORY STUDY
Description:
The purposes of this project are: (1) to improve understanding of cognitive processes involved in the valuation of mortality risk reductions that occur in an environmental pollution context, and (2) to translate this understanding into survey language appropriate for future stated preference studies. The approach is to bring the disciplines of economics and cognitive psychology together to build "mental models" of such cognitive processes, aided by the conduct of highly structured one-on-one interviews and focus groups and an extensive literature review. We propose to focus on the effect of various dimensions of risk and the risk context on willingness to pay to reduce death risks, including the perception of small probabilities, latency, confounding with morbidity, and respondent initial health status and age.