Is the value of reducing environmental risk greater for children than for adults? If so, what does this mean for policy makers? This report, the final output of the Valuation of Environment-Related Health Impacts (VERHI) project, presents new research findings on these key environmental policy questions. The authors estimate a "VSL" (Value of a Statistical Life) for children and adults based on new methodological approaches for valuing children's health. The survey work is distinguished by its international dimension (surveys were conducted in the Czech Republic, Italy and the United Kingdom) and by the extensive development efforts undertaken. The result: Two new survey instruments based on different methodological approaches; new estimates of the VSL for adults and children; analysis of the effects of context and other factors on risk preferences; presentation of novel ways to communicate risk, including a variety of visual aids; and insights that identify interesting paths for further study. This project involved a consortium of research teams in Italy, the United Kingdom and the Czech Republic. The Italian team was led by Anna Alberini, with contributions from Aline Chiabi and Stefania Tonin. In the United Kingdom, the research team was led by Graham Loomes and Ian Bateman, with contributions from Silvia Ferrini, Katie Bolt and Brett Day. Milan Sčasn� was the project leader in the Czech Republic, with contributions from Mark�ta Braun Kohlov�, Hana Skopkova, and Jan Melichar. Further inputs were provided by St�le Navrud. Pascale Scapecchi, Nick Johnstone and Henrik Lindhjem were responsible for the drafting of this publication, based upon the technical reports provided by the research teams.