title: Assessing whether there is a cancer premium for the value of a statistical life.
abstract: 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.
authors.affiliation: University Distinguished Professor of Law, Economics, and Management, Vanderbilt University, Nashville, TN, USA.
authors.forename: W Kip
authors.initials: WK
authors.lastname: Viscusi
authors.forename: Joel
authors.initials: J
authors.lastname: Huber
authors.forename: Jason
authors.initials: J
authors.lastname: Bell
mesh_terms: D005260:Female; D006801:Humans; D008297:Male; D008875:Middle Aged; D009369:Neoplasms / Q000191:economics* / Q000453:epidemiology; D011336:Probability; D012307:Risk Factors; D040242:Risk Reduction Behavior; D006113:United Kingdom / Q000453:epidemiology; D014481:United States / Q000453:epidemiology; D026712:Value of Life / Q000191:economics*
keywords: cancer; risk; stated preference; value of a statistical life (VSL)