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…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
GuidelinesPublication 2007Preference Measurement in Economic Analysis
This guide includes an overview of the concepts of preference measurement and quality-adjusted life years, …
This guide includes an overview of the concepts of preference measurement and quality-adjusted life years, a description of the most common techniques used for measuring preferences in economic evaluation, a summary of experience measuring preferences in the VA Cooperative Studies Program.
Preferences/Values | Health Outcomes | Health/Medicine | North America -
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…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
ReviewPublication 2006Public Health Policy for Cervical Cancer Prevention: Decision Science, Economic Evaluation, & Mathematical Modeling
Several factors are changing the landscape of cervical cancer control, including a better understanding of …
Several factors are changing the landscape of cervical cancer control, including a better understanding of the natural history of human papillomavirus (HPV), reliable assays for detecting high-risk HPV infections, and a soon to be available HPV-16/18 vaccine. There are important differences in the relevant policy questions for different settings. By synthesizing and integrating the best available data, the use of modeling in a decision analytic framework can identify those factors most likely to influence outcomes,…
Mathematical Models | Decision Analysis | Cost-Effectiveness Analysis | Infectious Diseases | Chronic Disease/Risk | Economics/Finance | Health/Medicine | Science/Technology | Global -
ReviewPublication 2003Public Health Policy and Cost-Effectiveness Analysis
This chapter presents an overview of the uses for cost-effectiveness analysis and disease-simulation modeling to …
This chapter presents an overview of the uses for cost-effectiveness analysis and disease-simulation modeling to rigorously evaluate alternatives to reduce mortality from cervical cancer. Scientific advances have provided opportunities over time to revisit strategies for cervical cancer prevention. How to invest health resources wisely, such that public health benefits are maximized-and opportunity costs are minimized-is a critical question in the setting of enhanced cytologic screening methods, human papillomavirus DNA testing, and vaccine development. Developing sound…
Mathematical Models | Cost-Effectiveness Analysis | Infectious Diseases | Chronic Disease/Risk | Health Systems | Policy/Regulation | Health/Medicine | Global -
ArticlePublication 2000Preference-Based Measures in Economic Evaluation in Health Care
Estimating preferences for states of health has been an active area of research in recent …
Estimating preferences for states of health has been an active area of research in recent years. Unlike psychophysical approaches, which discriminate levels of health status, preference-based approaches incorporate values or utilities for health outcomes and can be used in cost-effectiveness analyses to aid resource allocation decisions. This chapter considers issues and controversies involved in using preference-based measures in economic evaluation in health care, with a particular emphasis on cost-utility analysis and the estimation of quality-adjusted…
Preferences/Values | Cost-Effectiveness Analysis | Health/Medicine | North America | Europe -
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.
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | College | Graduate | Critical Thinking/Analysis -
Tutorial/PrimerPublication, Teaching Resource 1980Threshold Approach to Clinical Decision Making
This classic paper provides a "tutorial" for students learning about diagnostic testing, probability revision, and …
This classic paper provides a "tutorial" for students learning about diagnostic testing, probability revision, and how to calculate thresholds for testing, treatment, and no treatment. The authors describe how a physician's estimate of the probability that a patient has a particular disease is a principal factor in the determination of whether to withhold treatment, obtain more data by testing, or treat without subjecting the patient to the risks of further diagnostic tests. Using the concepts of decision analysis,…
Probability/Bayes | Test Performance | Value of Information | Decision Analysis | Health/Medicine