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ArticlePublication 2019Valuing Protection against Financial Risk
This paper explores the value of the financial risk protection provided by health insurance. While …
This paper explores the value of the financial risk protection provided by health insurance. While the benefits of reducing financial risks have long been recognized, less attention has been paid to how best to measure them. This paper provides a framework for assessing these benefits, focusing on three types of impacts: pooling the risk of unexpected medical expenditures between healthy and sick households, redistributing resources from high to low income recipients, and smoothing consumption over…
Priority Setting/Ethics | Preferences/Values | Benefit-Cost Analysis | Health/Medicine | Decision Analysis | Cost-Effectiveness Analysis | Social Determinants | Health Systems | Policy/Regulation | Economics/Finance | Global | Critical Thinking/Analysis -
ArticlePublication 2019Valuing Changes in Time Use
This paper reviews the literature on the monetary value of time in low- and middle-income …
This paper reviews the literature on the monetary value of time in low- and middle-income countries, focusing on time spent in the informal sector; i.e., for which no compensation is received. Valuing changes in time use is often a critical element of economic analyses of development projects, which may affect the time spent in activities such as collecting water or traveling to health clinics. The authors find support for a commonly-used benchmark of 50% of…
Priority Setting/Ethics | Preferences/Values | Benefit-Cost Analysis | Health/Medicine | Costing Methods | Decision Analysis | Social Determinants | Policy/Regulation | Economics/Finance | Global | Critical Thinking/Analysis -
Working PaperPublication 2018Assessing the Distribution of Impacts
This paper discusses the need to supplement benefit-cost analysis with estimates of how the impacts …
This paper discusses the need to supplement benefit-cost analysis with estimates of how the impacts are distributed across different members of the population, categorized by income level or other attributes. Benefit-cost analysis focuses on estimating aggregate net effects. Decision-makers and other stakeholders also want to know who is harmed, who is helped, and by how much. Responding to these questions requires identifying the characteristics of individuals and impacts of concern, examining how the benefits and…
Priority Setting/Ethics | Preferences/Values | Benefit-Cost Analysis | Health/Medicine | Costing Methods | Decision Analysis | Social Determinants | Policy/Regulation | Economics/Finance | Global | Critical Thinking/Analysis -
Working PaperPublication 2018Valuing Nonfatal Health Risk Reductions
This paper explores approaches for valuing nonfatal risk reductions associated with policy choices in low- …
This paper explores approaches for valuing nonfatal risk reductions associated with policy choices in low- and middle-income countries. The approach for valuation ideally would be based on estimates of individuals’ willingness to pay for changes in their own risks. However, high quality valuation research is not available for many nonfatal conditions even in high-income settings. Typically, two approaches are used either alone or in combination as rough proxies. The first involves applying an estimate of…
Priority Setting/Ethics | Preferences/Values | Benefit-Cost Analysis | Health/Medicine | Health Outcomes | Decision Analysis | Social Determinants | Policy/Regulation | Economics/Finance | Global | Critical Thinking/Analysis