Sensitivity (proportionality) of willingness to pay to (small) risk changes is often used as a criterion to test for … valid measures of economic preferences. In a contingent valuation (CV) study conducted in Austria, 1,005 respondents were … asked their willingness to pay (WTP) for preventing an increase in the risk of being killed in an avalanche of 1/42,500 and …

Sensitivity (proportionality) of willingness to pay to (small) risk changes is often used as a criterion to test for … valid measures of economic preferences. In a contingent valuation (CV) study conducted in Austria in February 2005 1 …,005 respondents were asked their willingness to pay (WTP) for preventing an increase in risk by 1/42,500 and 3/42,500, respectively …

It is still an ongoing discussion whether benefits resulting from reduced mortality risk should be valuated differently … particular risk affects all individuals regardless of their age VSL is rather constant for differently aged people. These results … may provide an explanation for the various outcomes in empirical studies. -- contingent valuation ; risk prevention ; age …