We present the results of an in-depth study in a small Southern Illinois town looking at the public's preferences with respect to reducing trihalomethanes (THMs) in their public drinking water system. THMs are an interesting environmental risk to study. First they are a low-level risk created as...

Innovation is important for firm performance and broader economic growth. But breakthrough innovations necessarily require greater risk-taking than more incremental approaches. To understand how managers respond to uncertainty when making research and development decisions, we conducted three...

Innovation is important for firm performance and broader economic growth. But breakthrough innovations necessarily require greater risk-taking than more incremental approaches. To understand how managers respond to uncertainty when making research and development decisions, we conducted three...

This paper examines factors that may influence the estimates of the Value of a Statistical Life obtained from contingent valuation surveys that elicit the willingness to pay (WTP) for mortality risk reductions. We examine the importance of distributional assumptions, the choice of the welfare...

We conducted a contingent valuation survey in Spain and the UK to elicit the WTP for reductions in the mortality risks associated with heat waves. Using two different approaches to communicate heat-related risks, we arrive at very similar VSL figures (€ 2.2 million in Spain and € 2.4 million...