Resources Repository
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ArticlePublication 2008Adjusting VSL for Age
This article addresses the theoretical ambiguity in the effect of age on the value of …
This article addresses the theoretical ambiguity in the effect of age on the value of statistical life (VSL) using a novel, age-dependent fatal risk measure to estimate age-specific hedonic wage regressions. VSL exhibits an inverted-U-shaped relationship with age. In the year 2000 cross section, workers' VSL rises from $3.7 million (ages 18–24) to $9.7 million (ages 35–44) and declines to $3.4 million (ages 55–62). Controlling for birth-year cohort effects yields a peak VSL of $7.8…
Benefit-Cost Analysis | Preferences/Values | Policy/Regulation | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
ArticlePublication 2007Mortality-Risk Valuation and Age
This article addresses whether a single value of statistical life (VSL) should be applied to …
This article addresses whether a single value of statistical life (VSL) should be applied to all age groups or whether lower values should be used for the elderly, recognizing that their life expectancies are shorter than those of younger people. Surveys of different age groups' willingness to pay (WTP) for mortality-risk reductions can potentially help resolve this issue. The 36 studies reviewed suggest that the literature is split on whether older people have a lower WTP…
Benefit-Cost Analysis | Preferences/Values | Policy/Regulation | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
ArticlePublication 2000Valuing Mortality Risk: Theory and Practice
This article discusses the theoretical foundation and empirical methods for estimating the value of a …
This article discusses the theoretical foundation and empirical methods for estimating the value of a statistical life (VSL). VSL is defined by individuals' preferences for small changes in risk and income, and often used by environmental and other economists to measure the monetary value of reduced mortality risk. The article reviews the dependence of VSL on age, income, baseline mortality risk, and latency.
Benefit-Cost Analysis | Preferences/Values | Policy/Regulation | College | Graduate | Critical Thinking/Analysis -
Resource PackPublication, Teaching Resource 2023Resource Pack: Diagnostic Tests, Bayes, and COVID-19
This resource pack provides a curated set of articles, perspectives, and interactives about diagnostic testing …
This resource pack provides a curated set of articles, perspectives, and interactives about diagnostic testing for COVID-19. The pack provides materials that will be particularly useful for educators who are teaching diagnostic test performance, value of information, and probability revision using Bayes’ theorem. The majority of papers focus on PCR or rapid antigen testing on samples obtained from the respiratory tract by nasopharyngeal swab. The mechanism of false negative results (e.g., timing of sample collection…
Probability/Bayes | Test Performance | Value of Information | Decision Analysis | Health/Medicine | Science/Technology | Global | High School | College | Graduate | Doctoral | Professional | Critical Thinking/Analysis | Graphics/Visualization | Quantitative Literacy -
Teaching PackPublication, Teaching Resource 2022Teaching Pack: Probability Revision and Bayes
In this teaching pack on Probability Revision and Bayes, students are introduced to the implications …
In this teaching pack on Probability Revision and Bayes, students are introduced to the implications of imperfect information, acquire a conceptual understanding of Bayes theorem, and gain practical skills in performing probability revision. Materials include an instructor's note, videos, companion slides, a glossary, an annotated bibliography, sample exercises, and additional support. Learning Objectives Demonstrate a conceptual understanding of Bayes’ theorem and probability revision. Differentiate between test characteristics (e.g., probability of positive test given…
Probability/Bayes | Test Performance | Decision Analysis | Environmental Health | Health/Medicine | College | Graduate | Critical Thinking/Analysis | Graphics/Visualization | Quantitative Literacy -
Teaching PackPublication, Teaching Resource 2022Teaching Pack: Using Test Information I
In this teaching pack on Using Test Information I, students review the performance of a …
In this teaching pack on Using Test Information I, students review the performance of a dichotomous test and the relationship between sensitivity and specificity, calculate likelihood ratios to describe test performance, and conduct probability revision using the odds-LR form of Bayes. Materials include an instructor's note, videos, companion slides, a glossary, an annotated bibliography, and sample exercises. Learning Objectives Calculate four conditional probabilities describing the performance of a dichotomous test, and explain the…
Probability/Bayes | Test Performance | Decision Analysis | Child/Nutrition | Health/Medicine | College | Graduate | Doctoral | Professional | Critical Thinking/Analysis | Graphics/Visualization | Quantitative Literacy -
Teaching PackPublication, Teaching Resource 2022Teaching Pack: Using Test Information II
In this teaching pack on Using Test Information II, students are introduced to tests with …
In this teaching pack on Using Test Information II, students are introduced to tests with continuous or categorical results, and calculate the sensitivity and specificity conditional on different 'cutoff points' or 'positivity criterion'. They are introduced to ROC curves and explore the implications of operating at different parts of the curve for any single test. They calculate the optimal positivity criterion given information on the prior, the test performance, and the relative consequences of true…
Probability/Bayes | Test Performance | Decision Analysis | Health/Medicine | College | Graduate | Doctoral | Critical Thinking/Analysis | Quantitative Literacy -
Teaching PackPublication, Teaching Resource 2022Teaching Pack: Valuing Individual Health Outcomes
In this teaching pack on Valuing Individual Health Outcomes, students learn how to assign quantitative …
In this teaching pack on Valuing Individual Health Outcomes, students learn how to assign quantitative values to health outcomes at the individual level, including: expected utility theory, the axioms of this theory, distinguishing between preference-based measures of value and health-related quality of life outcomes, measuring utility using the standard gamble, the time trade-off, and the visual analog scale, and understanding the limitations of these measures. Materials include an instructor's note, videos, companion slides, a glossary,…
Preferences/Values | Health Outcomes | Decision Analysis | Injuries/Accidents | Economics/Finance | Health/Medicine | College | Graduate | Doctoral -
Resource PackPublication, Teaching Resource 2017Resource Pack: Disease Control Priorities
This resource pack, curated by the Center of Health Decision Science, showcases selected analyses produced …
This resource pack, curated by the Center of Health Decision Science, showcases selected analyses produced by the Disease Control Priorities 3 (DCP3) to inform program design and resource allocation at the global and country levels. Analyses focus on the effectiveness, cost, and cost-effectiveness of priority interventions. Learn more by visiting the DCP3 website.
Benefit-Cost Analysis | Costing Methods | Evidence Synthesis | Cost-Effectiveness Analysis | Infectious Diseases | Maternal/Reproductive Health | Child/Nutrition | Chronic Disease/Risk | Mental Health | Injuries/Accidents | Health Systems | Economics/Finance | Health/Medicine | Global | College | Graduate | Doctoral | Professional | Critical Thinking/Analysis | Policy Translation | Quantitative Literacy