Resources Repository
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ArticlePublication 2020Valuing COVID-19 Mortality Risk
In this article, the author evaluates whether conventional estimates of the value per statistical life …
In this article, the author evaluates whether conventional estimates of the value per statistical life (VSL) in the United States (about $10 million) are appropriate for evaluating policies that affect risk of COVID-19. This estimate may be too large, because: (1) VSL estimates marginal values but COVID-19 risks can be non-marginal; (2) VSL is estimated for the average resident, but COVID-19 mortality is concentrated among the elderly; and (3) the pandemic has caused substantial losses…
Preferences/Values | Benefit-Cost Analysis | Infectious Diseases | Government/Law | Global -
ArticlePublication 2021COVID and the Age–VSL Relationship
In this article, the researchers explore the approach used to value COVID-19 mortality risk reductions …
In this article, the researchers explore the approach used to value COVID-19 mortality risk reductions in analyses of lockdowns and other policies. Many rely on a population-average estimate of the value per statistical life (VSL); others adjust VSL for life expectancy at the age of death. The article explores the implications of theory and empirical studies, which suggest that the relationship between age and VSL is uncertain; these uncertainties in turn may affect whether the…
Preferences/Values | Benefit-Cost Analysis | Infectious Diseases | Government/Law | Health/Medicine | North America -
ArticlePublication 2020Premature Deaths, Statistical Lives, and Years of Life
This article clarifies some misconceptions about mortality risk and economic valuation. The mortality effects of …
This article clarifies some misconceptions about mortality risk and economic valuation. The mortality effects of exposure to environmental hazards such as air pollution are often described by the estimated number of “premature deaths” and the economic value of an exposure reduction as the number of “statistical lives saved” multiplied by the “value per statistical life.” These terms can be misleading because the number of deaths advanced by exposure cannot be determined from mortality data; it…
Preferences/Values | Benefit-Cost Analysis | Health Outcomes | Environmental Health | Policy/Regulation | College | Graduate | Critical Thinking/Analysis -
GuidelinesPublication, Teaching Resource 2018Behavioral Economics Guide 2018
The 2018 Behavioral Economics Guide provides an introduction to behavioral economics, a review of developments …
The 2018 Behavioral Economics Guide provides an introduction to behavioral economics, a review of developments in the field, insights from practitioners, and general resources such as postgraduate programs and scholarly journals. This is the fifth edition of this now yearly publication. The 2018 edition features an introduction written by Robert Cialdini. Behavioraleconomics.com is the official home of the Behavioral Economics Guide. The guide is downloadable free of charge from the website.
Preferences/Values | Decision Theory | Decision Psychology | College | Graduate | Doctoral | Professional -
OrganizationWeb Portal 2024Council of Economic Advisers
The Council of Economic Advisers is an agency within the Executive Office of the President …
The Council of Economic Advisers is an agency within the Executive Office of the President and is charged with offering the President objective economic advice on the formulation of both domestic and international economic policy. The Council bases its recommendations and analysis on economic research and empirical evidence, using the best data available to support the President in setting our nation's economic policy. Learn about recent news and reports.
Benefit-Cost Analysis | Risk Analysis | Evidence Synthesis | Cost-Effectiveness Analysis | Policy/Regulation | Economics/Finance | Government/Law | North America -
ArticlePublication 2014Evaluation of FDA Benefit-Cost Analysis of Graphic Warning Labels
The Food and Drug Administration (FDA) is required to do a regulatory impact analysis assessing …
The Food and Drug Administration (FDA) is required to do a regulatory impact analysis assessing the costs and benefits of its tobacco products and other regulations. This paper provides a critical review of the approach the FDA used in its proposed and final graphic warning label rule, and includes recommendations on how to improve the analysis in ways that account for the differences between tobacco use and consumption of most consumer products. To date, FDA…
Benefit-Cost Analysis | Costing Methods | Chronic Disease/Risk | Policy/Regulation | Government/Law | Health/Medicine | North America -
ArticlePublication 2017Valuing Non-Fatal Risks: Monetary and Health-Utility Measures
This article discusses metrics for valuing environmental, health, and safety policies, which should be consistent …
This article discusses metrics for valuing environmental, health, and safety policies, which should be consistent with both the preferences of affected individuals and social preferences for distribution of health risks in the population. Two classes of metrics are widely used: monetary measures (e.g., willingness to pay) and health-utility measures (e.g., quality-adjusted life years (QALYs), disability-adjusted life years (DALYs)). Health-utility measures impose more structure than monetary measures, with the result that individuals’ preferences often appear inconsistent…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
OrganizationWeb Portal 2024Global Health Cost Consortium
The Global Health Cost Consortium (GHCC) is a new three-year initiative funded by the Bill …
The Global Health Cost Consortium (GHCC) is a new three-year initiative funded by the Bill and Melinda Gates Foundation to provide decision-makers with improved resources to estimate the costs of HIV and tuberculosis (TB) programs. GHCC’s goal is to increase the efficiency and effectiveness of HIV and TB prevention and treatment, and drive greater value for money of investments to tackle HIV and TB in low and middle-income countries, by improving the availability, quality, timing, and…
Benefit-Cost Analysis | Costing Methods | Evidence Synthesis | Cost-Effectiveness Analysis | Infectious Diseases | Health Systems | Health/Medicine | Global -
OrganizationWeb Portal 2024International Health Economics Association
The International Health Economics Association (iHEA), founded in 1994, works to increase communication between health …
The International Health Economics Association (iHEA), founded in 1994, works to increase communication between health economists, instill higher standards for applying economics to health and health care systems, and assist health economists with career growth. iHEA facilitates biennial congresses attended by more than 1,500 individuals, disseminates information on health economics events, job opportunities and other news. Members include over 2,000 professionals from more than 80 countries who work on a broad range of methodological and empirical aspects…
Benefit-Cost Analysis | Costing Methods | Priority Setting/Ethics | Cost-Effectiveness Analysis | Health Systems | Policy/Regulation | Health/Medicine | Global