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…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | 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…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | 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.
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | Climate/Environment | College | Graduate | Critical Thinking/Analysis -
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…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | 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…
Preferences/Values | Benefit-Cost Analysis | 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…
Preferences/Values | Benefit-Cost Analysis | 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.
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | College | Graduate | Critical Thinking/Analysis -
ArticlePublication 2024Adopting Electric School Buses in the U.S.: Health & Climate Benefits
This article evaluates the health and climate benefits of replacing diesel school buses with electric …
This article evaluates the health and climate benefits of replacing diesel school buses with electric models in the U.S. Despite the high cost of electric buses, their benefits in reducing mortality and childhood asthma, as well as greenhouse gas emissions, could justify the investment. The study quantifies the benefits of replacing an average diesel bus with an electric bus, estimating $84,200 in total benefits per bus, with $40,400 from climate benefits and $43,800 from health…
Benefit-Cost Analysis | Environmental Health | Government/Law | Health/Medicine | North America -
ArticlePublication 2024GBD Study 2021 Estimates: Implications for Health Policy & Research
The article discusses findings from the Global Burden of Diseases, Injuries, and Risk Factors Study …
The article discusses findings from the Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2021, published in The Lancet, which presents estimates of disease burden worldwide from 1990 to 2021. Despite an overall increase in global disability-adjusted life years (DALYs), age-standardized rates have decreased, particularly for communicable diseases like HIV/AIDS and diarrheal diseases. Post-COVID-19 impacts, including long COVID, are highlighted. GBD aids in tracking progress towards global health goals but its iterative nature…
Health Outcomes | Health/Medicine | Global