A note on parental and child risk valuation |
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| Authors: | Stefanos A Nastis Thomas D Crocker |
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| Institution: | (1) Department of International, European, Economic, and Political Studies, University of Macedonia, 156 Egnatias St, Thessaloniki, 54006, Greece;(2) Department of Economics and Finance, University of Wyoming, Laramie, WY 82071-3985, USA |
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| Abstract: | The paper develops a model that allows the estimation of parent’s valuation of own and child health, in an endogenous risk
framework, where parents can employ multiple activities to protect themselves and their children from a health risk. These
risk-reducing activities may differ in their effectiveness and their intensity of use. We suggest how to estimate the parent’s
ex ante marginal willingness-to-pay for a reduction in the ambient level of health risk, unencumbered by expected utility
terms.
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| Keywords: | Child health Endogenous risk Risk valuation |
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