The Perception and Excessive Valuation of Small, Publicized Drinking Water Risks
Low probability risks create challenges for individual decisions and potential pressures for government regulation. This article reports original survey evidence regarding the public's perception and valuation of water-related risks from plastic bottles with bisphenol A, residues in drinking water of the herbicide atrazine, and trace amounts of prescription drugs in water. People who believe that they face high water-related risks generally believe that the risks apply and, given that belief, are willing to pay more to limit the risk. However, the expressed willingness to pay for risk reductions is inordinately high even among those who are unsure of whether they are even exposed to the risk, and therefore may not be reliable as values for the actual benefits.
Duke Scholars
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- 3801 Applied economics
- 1402 Applied Economics
- 1401 Economic Theory
Citation
Published In
DOI
EISSN
ISSN
Publication Date
Volume
Issue
Start / End Page
Related Subject Headings
- 3801 Applied economics
- 1402 Applied Economics
- 1401 Economic Theory