Compensating wage differential and value of statistical life: a meta-analysis

2017 ◽  
Vol 60 (4) ◽  
pp. 527-548
Author(s):  
Agamoni Majumder ◽  
S. Madheswaran
Keyword(s):  
Wage Differential ◽  
Meta Analysis ◽  
Value Of Statistical Life ◽  
Statistical Life ◽  
Compensating Wage Differential

Meta-analysis of Value of Statistical Life Estimates

2017 ◽  
Vol 6 (1) ◽  
pp. 110-120 ◽  
Author(s):  
Agamoni Majumder ◽  
S. Madheswaran
Keyword(s):  
Wage Differential ◽  
Meta Analysis ◽  
Policy Instrument ◽  
Value Of Statistical Life ◽  
Mortality Risks ◽  
Statistical Life ◽  
Compensating Wage Differential ◽  
Health Related ◽  
Emerging Issues ◽  
Hedonic Wage

Value of Statistical Life (VSL) is one of the most debatable areas in economics. However, VSL is frequently used as a policy instrument for evaluating various safety, health and environmental regulations. Policymakers have to undertake the difficult task of assigning monetary value to the reduction of various health and mortality risks while analyzing safety policies. Compensating wage differential (CWD) for job risks acts as a reference point for valuing mortality risks while VSL serves as a basis to analyze these benefits of risk reduction policies. However, it has been observed in the recent past that VSL estimates vary substantially across various studies. Therefore, it has become necessary for researchers and policymakers to understand the source of this variation in order to aid policymaking. This paper attempts to bring together some of the emerging issues in VSL literature and presents a meta-analysis that is based on 34 observations from 30 hedonic wage-based VSL studies. The results of this meta-analysis show that certain emerging areas in VSL literature such as worker’s compensation benefits, age and long-term health-related job risk require more emphasis and further examination.

scholarly journals The value of statistical life in road safety: a meta-analysis

2003 ◽  
Vol 35 (6) ◽  
pp. 973-986 ◽  
Author(s):  
Arianne de Blaeij ◽  
Raymond J.G.M Florax ◽  
Piet Rietveld ◽  
Erik Verhoef
Keyword(s):  
Road Safety ◽  
Meta Analysis ◽  
Value Of Statistical Life ◽  
Statistical Life

scholarly journals Groundwater Arsenic-Attributable Cardiovascular Disease (CVD) Mortality Risks in India

Water ◽  
2021 ◽  
Vol 13 (16) ◽  
pp. 2232
Author(s):  
Ruohan Wu ◽  
Lingqian Xu ◽  
David A. Polya
Keyword(s):  
Chronic Exposure ◽  
Population Attributable Fraction ◽  
Attributable Fraction ◽  
Value Of Statistical Life ◽  
Mortality Risks ◽  
Statistical Life ◽  
Exposure Pathway ◽  
Groundwater Arsenic ◽  
Cvd Mortality ◽  
High Arsenic

Cardiovascular diseases (CVDs) have been recognized as the most serious non-carcinogenic detrimental health outcome arising from chronic exposure to arsenic. Drinking arsenic contaminated groundwaters is a critical and common exposure pathway for arsenic, notably in India and other countries in the circum-Himalayan region. Notwithstanding this, there has hitherto been a dearth of data on the likely impacts of this exposure on CVD in India. In this study, CVD mortality risks arising from drinking groundwater with high arsenic (>10 μg/L) in India and its constituent states, territories, and districts were quantified using the population-attributable fraction (PAF) approach. Using a novel pseudo-contouring approach, we estimate that between 58 and 64 million people are exposed to arsenic exceeding 10 μg/L in groundwater-derived drinking water in India. On an all-India basis, we estimate that 0.3–0.6% of CVD mortality is attributable to exposure to high arsenic groundwaters, corresponding to annual avoidable premature CVD-related deaths attributable to chronic exposure to groundwater arsenic in India of between around 6500 and 13,000. Based on the reported reduction in life of 12 to 28 years per death due to heart disease, we calculate value of statistical life (VSL) based annual costs to India of arsenic-attributable CVD mortality of between USD 750 million and USD 3400 million.

The Value of Statistical Life

2012 ◽  
pp. 412-443 ◽  
Author(s):  
K. R. Shanmugam ◽  
S. Madheswaran ◽  
A. K. Enamul Haque ◽  
M. N. Murty ◽  
Priya Shyamsundar
Keyword(s):  
Value Of Statistical Life ◽  
Statistical Life

scholarly journals Comparing the Application of CEA and BCA to Tuberculosis Control Interventions in South Africa

2019 ◽  
Vol 10 (S1) ◽  
pp. 132-153 ◽  
Author(s):  
Thomas Wilkinson ◽  
Fiammetta Bozzani ◽  
Anna Vassall ◽  
Michelle Remme ◽  
Edina Sinanovic
Keyword(s):  
South Africa ◽  
South African ◽  
Methodological Approach ◽  
Value Of Statistical Life ◽  
Policy Recommendations ◽  
Benefit Cost Analysis ◽  
Tb Control ◽  
Statistical Life ◽  
Benefit Cost ◽  
The Impact

Achieving ambitious targets to address the global tuberculosis (TB) epidemic requires consideration of the impact of competing interventions for improved identification of patients with TB. Cost-effectiveness analysis (CEA) and benefit-cost analysis (BCA) are two approaches to economic evaluation that assess the costs and effects of competing alternatives. However, the differing theoretical basis and methodological approach to CEA and BCA is likely to result in alternative analytical outputs and potentially different policy interpretations. A BCA was conducted by converting an existing CEA on various combinations of TB control interventions in South Africa using a benefits transfer approach to estimate the value of statistical life (VSL) and value of statistical life year (VSLY). All combinations of interventions reduced untreated active disease compared to current TB control, reducing deaths by between 5,000 and 75,000 and resulting in net benefits of Int$3.2–Int$137 billion (ZAR18.1 billion to ZAR764 billion) over a 20-year period. This analysis contributes to development and application of BCA methods for health interventions and demonstrates that further investment in TB control in South Africa is expected to yield significant benefits. Further work is required to guide the appropriate analytical approach, interpretation and policy recommendations in the South African policy perspective and context.

scholarly journals PMC61 THE IMPLICIT VALUE OF STATISTICAL LIFE: ESTIMATES DERIVED FROM PUBLIC INTERVENTIONS IMPLEMENTED IN THE NETHERLANDS

2008 ◽  
Vol 11 (6) ◽  
pp. A578
Author(s):  
AFG Goebbels ◽  
AJHA Ament ◽  
A Novák ◽  
CPWM Veraart ◽  
JL Severens
Keyword(s):  
The Netherlands ◽  
Value Of Statistical Life ◽  
Statistical Life
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