• Environmental Analysis Health and Toxicology
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• v.30 no.sup
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• pp.5.1-5.5
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• 2015

Objectives To protect public health from risk, the Minister of Environment in Korea legislated an act concerning the registration and evaluation of chemical substances. In this study, we estimated the value of a statistical life (VSL) of carcinogenic chemicals to evaluate the socioeconomic analysis in Korea. Methods The estimation of the health benefit can be calculated through an individual's VSL and willingness to pay (WTP). To estimate the VSL and WTP, we used a contingent valuation method through a web-based survey. Results The survey is conducted with 1434 people living in Seoul and six large cities. An analysis of the survey is essential to review the distribution of the characteristics of the target population. The statistically significant variables affecting the WTP are location, age, household income, quality of life. Through the review of data, we secured statistical validity. The WTP was estimated as 41205 Korean won (KRW)/person, and the estimated VSL appeared as 796 million KRW/person. Conclusions There is a case in which the amount of statistical life value is estimated in connection with domestic environmental policy, fine dust, etc. However, there are no cases of evaluation for chemical. The utilization of this result is possible for conducting other study with chemicals.

• Journal of Auto-vehicle Safety Association
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• v.13 no.3
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• pp.47-53
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• 2021

This study is a study to estimate the VSL (Value of a Statistical Life) and CBA (Cost-benefit analysis) of the rollover safety standard for hydrogen buses, VSL is an economic value concept used to quantify the benefits of avoiding death. CBA shows the effect of cost-benefit, and if B/C is greater than 1, there is a social effect. In order to estimate the VSL and CBA, the hydrogen bus introduction scenario was assumed to be optimistic (20,000 vehicles in 2030), neutral (15,000 vehicles in 2030), and pessimistic (10,000 vehicles in 2030), and the effect of reducing human casualties was estimated. As a result, except for the pessimistic market situation of introducing hydrogen buses (10,000 vehicles in 2030) and the VSL reduction ratio of 10%, all policies were judged to have high cost-benefit effects. These results indicate that the introduction of the rollover safety standard for hydrogen buses is a socially effective policy.

• Journal of the Korean Society of Radiology
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• v.17 no.1
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• pp.79-90
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• 2023

The study is to estimate the social costs of premature deaths due to nuclear power plant(NPP) accidents, by resorting to the contingent valuation method(CVM) which is used to estimate the value of a statistical life(VSL). The VSL estimate is about 3.55 billion won, which is multiplied by some 1.8 million premature deaths due to the accidents in world history of NPP, to get a maximum social cost of 1,952 trillion won. This estimate is equivalent to the 2022 real GDP of Korea. The annual average number of premature deaths and the resulting average social cost is 26,000 and 28 trillion won, respectively. The social cost of premature deaths due not only to accidents, but also the air pollutants from fired power plants(FPP) during 1987~2021 is estimated to be 26,919 trillion won. This is equivalent to 2021 US GDP, and is about 3,000 times higher than that for NPP of 9 trillion won. In 2021, the estimated social costs of FPP and NPP are 1,075 trillion won and 292 billion won, respectively. For South Korea, the study suggests to adapt an energy mix of increased share of electricity production for NPP relative to FPP, given that the 2050 carbon neutrality strategy of Korea is expected to lead to an increased share of renewable energy in electricity production. The study emphasizes accumulating the number of CVM-based VSL studies to ensure efficient energy policies.

• Environmental and Resource Economics Review
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• v.32 no.1
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• pp.1-26
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• 2023

This study employs the dichotomous choice contingent valuation method to estimate the Value of a Statistical Life (VSL) and the Value per Statistical Case (VSCC) of cancer risk. In contrast to the previous studies, which presented the mortality risk probability directly, the study uses conditional probability, which combines the chance of getting cancer and dying from it. In addition, the study examines the impact of variables that may affect willingness to pay for reducing the risk of death from cancer and getting cancer, such as the impact on daily life and pain levels associated with cancer. The results indicate that the estimated cancer VSL ranges from approximately 952 million won to 3.359 billion won, while the VSCC is estimated to be between about 0.42 billion won and 2.72 billion won. The study finds a significant difference in the VSL depending on whether the reduction in mortality risk is from a decrease in the chance of getting cancer or a decrease in the chance of dying from cancer. However, the effect of impacts on daily activities and pain on willingness to pay is inconclusive.

• Environmental and Resource Economics Review
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• v.29 no.2
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• pp.247-270
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• 2020

The value of a statistical life (VSL) plays a very important role in estimating the benefits of environmental policy. It is used, for example, as a unit of monetization of health benefits resulting from the reduction of air pollutants, which is the basis of cost-benefit analysis of policies. The VSL can be defined as the value that people of each society are willing to pay to reduce the risk of death, so the value should reflect the characteristics of its members. In this study, we apply a choice experiment with 3,081 respondents collected through a web survey were divided into two samples according to the type of questions. Among the various estimates, the most appropriate estimate of the VSL is about 1.3 billion won from 1,528 sample, which is similar to the results of the meta-analysis using estimates from prior studies conducted in Korea. In addition, this study shows that a private prevention program is preferred to reduce the risk of death from cancer rather than a public program.

• Environmental and Resource Economics Review
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• v.17 no.4
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• pp.845-873
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• 2008

This study estimates the VSL(value of a statistical life) as well as the WTP(willingness to pay) for mortality risk reduction using sample selection model with data on liver cancer examination which is associated with little possibility of multi-purpose(i.e. joint production) in averting behavior. The marginal benefits of mortality risk reduction are estimated by applying for household production function model with medical expense and the time required for medical examination of liver cancer. Individuals are more likely to take liver cancer test if they are male, older, higher educated, those with spouse, smoker, more income of household, and more anxious about their health. The costs of liver cancer examination are statistically significantly affected with expected signs by size of mortality risk reduction, sex, period of eduction, those with spouse, and household income. The marginal effect of mortality risk reduction owing to taking liver cancer examination is estimated at 321,097 won. The costs of liver cancer examination are increased by 905 won with more one year of education period and by 1,743 won with more one million won in household income. On liver cancer examination, male spends more 12,310 won than female and those with spouse pay more 7,969 won than those without spouse. Therefore the VSL from mortality risk reduction due to liver cancer examination is 321.10 million won at mean size of mortality risk reduction and mean cost of liver cancer examination. The results of sensitivity tests on costs and effects of liver cancer test shows that the VSLs are estimated in a range from 160.55 million won to 642.19 million won.

• Journal of Radiation Industry
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• v.17 no.1
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• pp.111-118
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• 2023

The International Commission on Radiological Protection (ICRP) 103 recommends a cost-benefit analysis method as an auxiliary tool for scientific and rational decision-making for the principle of optimization of radiological protection. In order to conduct a cost-benefit analysis, the safety improvement of nuclear power by regulation must be measured and converted into monetary terms. The improvement of nuclear safety can be measured by reducing the radiation exposure dose of the people, and it is necessary to determine the coefficient to convert the radiation exposure dose into money. The monetary coefficient is calculated as the product of the statistical life value (VSL) and the nominal risk coefficient. In order to derive the monetary coefficient, the willingness to pay (WTP) can be estimated using the contingent valuation method (CVM), which quantifies the value of non-market goods by converting them into monetary units. WTP can be estimated based on the random utility model, which is the basic model for bivariate selection type conditional value measurement data. Statistical life value can be calculated using the estimated WTP and reduction in early mortality, and a monetary coefficient can be derived.

• Environmental and Resource Economics Review
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• v.12 no.1
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• pp.49-74
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• 2003

This study used a slightly modified version of contingent valuation questionnaire designed and developed by Krupnick et al.(2000) to estimate the value of mortality risk reduction for environmental policy. Because that environmental policy, especially air pollution policy with some latency main effect on mortality risk reduction of old people with some latency period, respondents were asked about their current WTP for 5/1,000 mortality risk reduction being to take place beginning at 70 over the course of ten years. The annual mean WTP is 233,370 won (standard error 32,570 won) in spike/continuous/interval data model. The implied VSL is 466 million won. The 95% confidence interval is 339 million won~594 million won.

• Environmental and Resource Economics Review
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• v.31 no.4
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• pp.505-529
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• 2022

Radon is a radioactive gas that causes lung cancer deaths. The contingent valuation method (CVM) is used to estimate the value of a statistical life(VSL) of 2.054 billion won for the death due to residential radon in Korea. Residential radon is assumed to have caused 2,330 deaths in 2020, of which the estimated social cost is 4.78 trillion won. When a national compulsory standard of 200Bq/m³ is set for residential radon concentration, the number of lives saved is estimated to be 691, leading to a social benefit of 1.42 billion won. This study reports the origin, characteristics and health risk of residential radon, and emphasizes the importance of a dramatic increase in the budget for residential radon reduction policies.

• Journal of Preventive Medicine and Public Health
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• v.36 no.3
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• pp.230-238
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• 2003

Objectives : To estimate the value of statistical life (VSL) and health damage cost on theoretical mortality estimates due to environmental pollution. Methods : We assessed the health risk on three environmental problems and eight sub-problems. Willingness to pay (WTP) was elucidated from a questionnaire survey with dichotomous contingent valuation method and VSL (which is the division of WTP by the change of risk reduction) calculated from WTP. Damage costs were estimated by multiplying VSL by the theoretical mortality estimates. Results : VSLs from death caused by air pollution, indoor air pollution and drinking water contamination were about 0.3, 0.5 and 0.3 billion won, respectively. Damage costs of particulate matters ($PM_{10}$) and radon were higher in the sub-problems and were above 100 billion won. Because damage cost depends on theoretical mortality estimate and WTP, its uncertainty is reduced in the estimating process. Conclusion : Health damage cost or risk benefit should be considered as one scientific criterion for decision making in environmental policy.