- Abstract:  As climate variability is increasing, extreme events such as temperature fluctuations will be more frequent. For the case of India, the country’s exposure to heatwaves has risen in frequency, reaching temperature records in 2022, being one of the countries with the highest heat-related mortality. If policy-making in India is to be informed by its citizens, then there is an urgent need to better understand how they themselves trade-off climate-related mortality risks with other more familiar risk such as traffic accidents. We should also understand what values they may place on reducing such risks. However, since India has an income-constrained population, we forgo the use of a willingness-to-pay (WTP) based approach and instead adopt a non-monetary, Risk-Risk Trade-Off (RRTO) valuation method.  To increase the statistical efficiency of the approach, we ask respondents to answer two questions and estimate the resulting risk premium through an adapted (from WTP studies) double bounded, dichotomous choice approach. We show that, theoretically and empirically, this non-monetary can be used in the calculation of a monetary value for avoiding heatwave-related fatalities i.e. a standard Value of Statistical Life (VSL). By estimating a risk premium for heatwave-related mortality risks, we can establish whether on average, people care more about avoiding these risks compared to other traditional risks (in our case, traffic accidents). From our sample of 2334 individuals from seven geographical states in India we estimate the heatwave risk mortality premium to be between 1.7-1.9, which, based on a standard benefit transfer methodology for LMICs, translates to a VSL range of for India of $0.30-2.14 million (2021 US Dollar values). 

- Thời gian: 10h00-11h00, thứ 2 ngày 08/05/2023

- Địa điểm: Phòng học thuật - Trường Kinh tế