By Geoffrey Heal (eds.)
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Additional resources for Is Economic Growth Sustainable?
5 indicates, the highest numbers of admissions and workday losses attributed to air pollution occur in the eastern and central parts of the country. 4 Monetized health costs As noted in the Introduction, we monetize the mortality costs of air pollution using two approaches—the Adjusted Human Capital approach (AHC) and an estimate of the Value of a Statistical Life (VSL) based on a stated preference study conducted by Krupnick et al. (2006). These approaches are brieﬂy discussed in this section, which also discusses the approaches used to value morbidity.
This practice is followed in the United States for political, rather than economic, reasons. , forgone earnings) to value loss of life. This values an individual by what he produces and assumes that this value is accurately measured by his earnings. The adjusted human Maureen Cropper 27 capital (AHC) approach, which is widely used in China, represents an important departure from the traditional human capital approach. Because the use of foregone earnings would assign a value of zero to the lives of the retired and the disabled, the AHC approach avoids this problem by assigning the same value—per capita GDP—to a year of life lost by all persons, regardless of age.
S. Environmental Protection Agency (1999) The Beneﬁts and Costs of the Clean Air Act, 1990 to 2010. S. Congress (Washington, DC: Government Printing Ofﬁce). , B. Wang, Z. Xu, Y. Schlatter, L. Wang, X. Xu (2003) ‘Particulate Matter, Sulfur Dioxide, and Daily Mortality in Chongqing, China’, Environmental Health Perspectives, vol. 111(4), 562–67. , W. Magat, and J. Huber (1991) ‘Pricing Environmental Health Risks: A Survey Assessment of Risk-Risk and Risk-Dollar Tradeoffs for Chronic Bronchitis’, Journal of Environmental Economics and Management, t vol.
Is Economic Growth Sustainable? by Geoffrey Heal (eds.)