Resources Repository
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ArticlePublication 2012Expert Elicitation of VSL
This article uses expert elicitation to address the monetary value of avoided premature mortality, which …
This article uses expert elicitation to address the monetary value of avoided premature mortality, which typically dominates the quantified benefits of air pollution regulations. Formal expert elicitation methods are one means of characterizing associated uncertainties. The authors undertake a pilot study that elicits quantitative probabilistic judgments of uncertainties in value per statistical life (VSL) estimates for use in an air pollution context. The two-stage elicitation addresses uncertainties in both a base case VSL for a…
Benefit-Cost Analysis | Policy/Regulation | Preferences/Values | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
ReportPublication 2012Mortality Risks in Environment, Health and Transport
This report presents a major meta-analysis of value of a statistical life (VSL) estimates derived …
This report presents a major meta-analysis of value of a statistical life (VSL) estimates derived from surveys around the world. The analysis seeks to explain the differences in the estimates, for example across countries. Differences in incomes and the magnitude of the risk reduction were found to be the factors having the strongest impact, but numerous other policy-relevant factors are also important. The report also presents advice on how VSL estimates can be best used…
Benefit-Cost Analysis | Policy/Regulation | Preferences/Values | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
ArticlePublication 2011Valuing Mortality Risk Reductions: Progress and Challenges
This article focuses on the value of mortality risk reduction, an important component of the …
This article focuses on the value of mortality risk reduction, an important component of the benefits estimates for environmental policies. In recent years, the number, scope, and quality of valuation studies have increased dramatically. Revealed-preference studies of wage compensation for occupational risks, on which analysts have primarily relied, have benefited from improved data and statistical methods. Stated-preference research has improved methodologically and expanded dramatically. In these studies, researchers have explored many issues concerning the validity…
Benefit-Cost Analysis | Policy/Regulation | Preferences/Values | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
ArticlePublication 2010Valuing Environment-Related Health Risks for Children
This report is the final output of the OECD Valuation of Environment-Related Health Impacts (VERHI) …
This report is the final output of the OECD Valuation of Environment-Related Health Impacts (VERHI) project and presents new research findings. The authors estimate a value per statistical life (VSL) for children and adults based on surveys conducted in the Czech Republic, Italy and the United Kingdom.
Benefit-Cost Analysis | Policy/Regulation | Preferences/Values | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
ArticlePublication 2010Cost-Effectiveness of Alternative Pregnancy Termination Strategies in Nigeria and Ghana
To explore the policy implications of increasing access to safe abortion in Nigeria and Ghana, …
To explore the policy implications of increasing access to safe abortion in Nigeria and Ghana, the authors developed a computer-based decision analytic model which simulates induced abortion and its potential complications in a cohort of women. The model was used to compare the costs and benefits of unsafe abortion and three first-trimester abortion modalities: hospital-based dilatation and curettage, hospital- and clinic-based manual vacuum aspiration (MVA), and medical abortion using misoprostol (MA). The results showed that…
Cost-Effectiveness Analysis | Maternal/Reproductive Health | State-Transition | Culture/Society | Economics/Finance | Health/Medicine | Sub-Saharan Africa -
ArticlePublication 2009Cost-Effectiveness of Alternative Pregnancy Termination Strategies in Mexico City
This study evaluated the health and economic outcomes associated with three alternative first-trimester abortion techniques …
This study evaluated the health and economic outcomes associated with three alternative first-trimester abortion techniques in Mexico City using a computer-based model to simulate induced abortion and its potential complications. Strategies included alternative modalities for first-trimester pregnancy termination: hospital-based dilatation and curettage (D&C), hospital-based manual vacuum aspiration (MVA), clinic-based MVA and medical abortion using vaginal misoprostol. Outcomes included number of complications, lifetime costs, life expectancy, and quality-adjusted life expectancy. Assuming all options were equally available,…
Cost-Effectiveness Analysis | Maternal/Reproductive Health | Health Outcomes | State-Transition | Health/Medicine | Latin America & Caribbean -
ArticlePublication 2002QALYs versus WTP
This article discusses quality adjusted life years (QALYs) and willingness to pay (WTP), which are …
This article discusses quality adjusted life years (QALYs) and willingness to pay (WTP), which are alternative measures of the value of reductions in health risks. Although both methods are based on individual preferences, the underlying assumptions differ. The different bases yield systematically different conclusions about the relative value of reducing health and mortality risks to individuals who differ in age, preexisting health conditions, income, and other factors. The choice of which method to use depends…
Benefit-Cost Analysis | Policy/Regulation | Preferences/Values | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
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 | Policy/Regulation | Preferences/Values | 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 | Policy/Regulation | Preferences/Values | Climate/Environment | College | Graduate | Critical Thinking/Analysis