Abstract
Attempts to place a monetary value on health changes is an important field for both environmental economists and health economists. Typically, a change in environmental quality has direct or indirect impact on human health, which forces the environmental economist to try to assess the value of health changes. For the health economist, evaluating a medical treatment requires that the benefits of the treatment somehow are valued in monetary terms. In both cases risk or uncertainty pertains to the effects. A pollution treatment plant and a medical treatment both shift the probability that individuals will experience a particular health state.