Resources Repository
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GuidelinesPublication 2014EPA Guidelines for Preparing Economic Analyses
The US Environmental Protection Agency (EPA) Guidelines for Preparing Economic Analyses provide a framework for …
The US Environmental Protection Agency (EPA) Guidelines for Preparing Economic Analyses provide a framework for assessing the impacts of environmental regulations and policies that has been extensively peer-reviewed and is widely-applied both within and outside of the agency. The Guidelines discuss: (1) statutory and executive order requirements for conducting economic analyses; (2) identifying the need for policy action; (3) regulatory and non-regulatory approaches to pollution control; (4) baseline definition; (5) discounting future benefits and costs;…
Preferences/Values | Benefit-Cost Analysis | Priority Setting/Ethics | Decision Analysis | Environmental Health | Policy/Regulation | Climate/Environment | Government/Law | North America | Critical Thinking/Analysis -
GuidelinesPublication 2014Methods for Economic Evaluation Project
This report details the work of the Methods for Economic Evaluation Project (MEEP), which aims …
This report details the work of the Methods for Economic Evaluation Project (MEEP), which aims to promote a consistency in the methods used for economic evaluations. The report is targeted especially at low and middle-income countries (LMICs). The Bill and Melinda Gates Foundation is a major funder of health economic evaluations in LMICs, but there is substantial variation in the methods used and the quality of the analyses produced. The report drew on expertise from…
Costing Methods | Benefit-Cost Analysis | Priority Setting/Ethics | Cost-Effectiveness Analysis | Climate/Environment | Education/Labor | Health/Medicine | Global -
ArticlePublication 2013Using Occupational Injury Data to Estimate VSL
This article discusses the use of occupational fatality rate data to estimate the additional pay …
This article discusses the use of occupational fatality rate data to estimate the additional pay workers receive for bearing greater risks, while controlling for other aspects of the job and characteristics of the worker. This tradeoff rate is typically referenced as the value of a statistical life (VSL). The extensive U.S. labor market literature generating VSL estimates has utilized several fatality rate measures which are typically matched to employment information on workers from large datasets.…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | College | Graduate | Critical Thinking/Analysis -
BookPublication 2013Medical Decision Making
This new edition of Medical Decision Making provides a review of the key decision making infrastructure …
This new edition of Medical Decision Making provides a review of the key decision making infrastructure of clinical practice and explains the principles of medical decision making both for individual patients and the wider health care arena. Targeted to clinicians interested in medical decision making, it demonstrates how to make the best clinical decisions based on the available evidence and how to use clinical guidelines and decision support systems in electronic medical records to shape practice…
Preferences/Values | Costing Methods | Probability/Bayes | Health Outcomes | Test Performance | Value of Information | State-Transition | Decision Analysis | Cost-Effectiveness Analysis | Economics/Finance | Health/Medicine | North America | Europe | Graduate | Doctoral | Professional | Critical Thinking/Analysis | Decision Making/Leadership | Quantitative Literacy -
ArticlePublication 2013Valuing Health Risk Reductions
In this article, the authors discuss how to value risk reductions in the context of …
In this article, the authors discuss how to value risk reductions in the context of benefit-cost analysis. Many public policies and private actions affect the risk of injury, illness, or death, yet changes in these risks are not easily valued using market prices. The authors begin with a pragmatic focus, describing the analytic framework and the approaches currently used for valuation, including estimates of willingness to pay (WTP), cost of illness (COI), and monetized quality-adjusted…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | College | Graduate | Critical Thinking/Analysis -
GuidelinesPublication 2012Model Transparency and Validation: A Report of the ISPOR-SMDM Modeling Task Force-7
This paper discusses how to improve trust in the use of health care models through …
This paper discusses how to improve trust in the use of health care models through validation and transparency. Validation involves face validity (wherein experts evaluate model structure, data sources, assumptions, and results), verification or internal validity (check accuracy of coding), cross validity (comparison of results with other models analyzing same problem), external validity (comparing model results to real-world results), and predictive validity (comparing model results with prospectively observed events). Recommendations are provided for nontechnical description…
Calibration/Validation | Costing Methods | Health Outcomes | Mathematical Models | Health/Medicine -
GuidelinesPublication 2012Modeling Good Research Practices - Overview: A Report of the ISPOR-SMDM Modeling Task Force-1
This paper provides an overview of the work of the joint Task Force between the …
This paper provides an overview of the work of the joint Task Force between the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) and the Society for Medical Decision Making (SMDM), provides the overarching recommendations, and discusses future work that is needed. The audience for these papers includes anyone who build models, stakeholders who utilize their results, and those concerned with the use of models to support decision making. This article is part 1 of…
Calibration/Validation | Costing Methods | Health Outcomes | Value of Information | Mathematical Models | State-Transition | Dynamic Transmission | Microsimulation | Dynamic Simulation | Decision Analysis | Infectious Diseases | Health/Medicine -
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 -
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…
Preferences/Values | Benefit-Cost Analysis | Policy/Regulation | Climate/Environment | College | Graduate | Critical Thinking/Analysis