Paying for permanence: Public preferences for contaminated site cleanup
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We use conjoint choice questions to investigate the preferences of people in four cities in Italy for income and future/permanent mortality risk reductions delivered by contaminated site remediation policies. The VSL is €5.6 million for an immediate risk reduction. If the risk reduction takes place 20 years from now, the implied VSL is €1.26 million. Respondents’ implicit discount rate is 7%. The VSL depends on respondent characteristics, familiarity with contaminated sites, concern about the health effects of exposure to toxicants, having a family member with cancer, perceived usefulness of public programs and beliefs about the goals of government remediation programs.
KeywordsValue of a statistical life Latent risk reductions Individual discount rates Conjoint choice questions Contaminated sites Remediation
JEL ClassificationJ17 I18 K32 Q51 Q53
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