Resources Repository
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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 -
Resource PackPublication, Teaching Resource 2024Resource Pack: Extended Cost-Effectiveness Analysis
Health policies are intended to increase the uptake of effective and efficient interventions and result …
Health policies are intended to increase the uptake of effective and efficient interventions and result in health gains (e.g., premature mortality and morbidity averted). Health policies can also provide non-health benefits in addition to the sole well-being of populations and beyond the health sector. For instance, social and health insurance programs can prevent illness-related impoverishment and provide financial risk protection. Health policies can also improve the distribution of health in the population and promote health…
Priority Setting/Ethics | Costing Methods | Cost-Effectiveness Analysis | Social Determinants | Health Systems | Policy/Regulation | Culture/Society | Economics/Finance | Health/Medicine | Global | Graduate | Doctoral | Professional | Critical Thinking/Analysis | Decision Making/Leadership | Quantitative Literacy -
Tutorial/PrimerPublication, Teaching Resource 2024Tutorial: Introduction to Programming Decision Trees
This self-directed tutorial walks through the development of a decision tree using Amua to evaluate …
This self-directed tutorial walks through the development of a decision tree using Amua to evaluate three initial management strategies for ductal carcinoma in situ (DCIS) based on a published analysis: Soeteman DI, Stout NK, Ozanne EM et al. Modeling the Effectiveness of Initial Management Strategies for Ductal Carcinoma in Situ. J Natl Cancer Inst 2013; 105 (11): 774-781. The tutorial describes how to build the model structure, parameterize the model probabilities and outcomes based on…
Mathematical Models | Decision Analysis | Clinical Care | Health/Medicine | Graduate | Doctoral | Professional -
Tutorial/PrimerPublication, Teaching Resource 2024Tutorial: Using Fire in Forest Management: Decision Making under Uncertainty
This self-directed tutorial is for a decision analytic model related to the execution and management …
This self-directed tutorial is for a decision analytic model related to the execution and management of prescribed burns within forests. This tutorial builds upon the work of the publication: Cohan D, Haas SM, Radloff DL, Yancik RF. Using Fire in Forest Management: Decision Making Under Uncertainty. Interfaces 1984; 14 (5): 8-19. Not open access. About the Alan Colowick Innovation Fund The case-based tutorials in this teaching pack were created with support from the CHDS Alan Colowick…
Mathematical Models | Decision Analysis | Environmental Health | Climate/Environment | Graduate | Doctoral | Professional -
Tutorial/PrimerPublication, Teaching Resource 2023Conducting Trial-Based Economic Evaluations Using R: A Tutorial
Trial-based economic evaluations are increasingly conducted to support healthcare decision-making but there are inevitable methodological …
Trial-based economic evaluations are increasingly conducted to support healthcare decision-making but there are inevitable methodological challenges. This tutorial provides step-by-step guidance on how to combine appropriate statistical methods using a ready-to-use R script, and addresses missing data, correlated costs and effects, baseline imbalances, and skewness of costs and/or effects. The authors also provide the theoretical background of these methods, and demonstrate their application through a simulated trial-based economic evaluation.
Costing Methods | Evidence Synthesis | Economics/Finance | Health/Medicine | Graduate | Doctoral | Professional | Quantitative Literacy -
ReviewPublication 2023Handbook of Vaccine Health Economics
The open-access book, "Handbook of Applied Health Economics in Vaccines," looks at the complexities of …
The open-access book, "Handbook of Applied Health Economics in Vaccines," looks at the complexities of vaccine discovery, financing, and distribution. It highlights the inadequacy of standard economic models for vaccines. The book explores alternative principles challenging market-based approaches and equips readers with tools for assessing costs and benefits through practical exercises. It serves as a comprehensive resource for decision-making in vaccine development and distribution and emphasizes the importance of considering broader perspectives beyond economic efficiency.…
Costing Methods | Health Outcomes | Evidence Synthesis | Decision Analysis | Benefit-Cost Analysis | Cost-Effectiveness Analysis | Policy/Regulation | Health/Medicine | Global | Graduate | Doctoral | Professional