Hoffmann, S., Qin, P., Krupnick, A., Badrakh, B., Batbaatar, S., Altangerel, E., and L. Sereeter, 2012. The Willingness to Pay for Mortality Risk Reductions in Mongolia, Resource and Energy Economics 34 (2012) 493-513.
This paper reports results from a stated preference survey designed to estimate the willingness to pay for mortality risk reductions in Ulaanbaatar, Mongolia.
The survey includes both contemporaneous and latent risk reductions of a magnitude typically achievable through clean air policy. The study is one of a series of national studies designed to provide comparable estimates around the world. One goal of this series is to build a more solid bridge for benefits transfer between developed and developing countries. The survey was conducted in winter 2010. Estimates of willingness to pay passed external and internal scope tests. Study results imply a value of statistical life of approximately $500,000 (based on a purchasing power parity exchange rate) for a contemporaneous 5-in-10,000 annual risk reduction.