scholarly journals PAR11 ARE THEY MEASURABLE? A STUDY ON ELICITING INDIRECT AND INTANGIBLE COSTS OF KNEE OSTEOARTHRITIS USING HUMAN CAPITAL APPROACH AND WILLINGNESS-TO-PAY IN MULTIETHNIC ASIAN POPULATION IN SINGAPORE

2006 ◽  
Vol 9 (6) ◽  
pp. A223
Author(s):  
F Xie ◽  
J Thumboo ◽  
KY Fong ◽  
NN Lo ◽  
SJ Yeo ◽  
...  
2021 ◽  
Vol 28 (1) ◽  
pp. 17-22
Author(s):  
Safety Husna Pangestika ◽  
Aine Kusumawati ◽  
Ade Sjafruddin

Crash cost is an important component for conducting economic analysis in selecting countermeasures for crash locations. It is used to convert the benefit of crash or fatality reduction into monetary terms. Many research on crash cost have been carried out in Indonesia. Most of the research utilized gross output/human capital approach. However, this approach has been widely criticized for not being able to describe the quality of life of crash casualties and the costs of pain, grief and suffering (i.e. human cost). The concept of Value of Statistical Life  (VoSL) has been introduced by InDeV (2016) to calculate the human cost, which is assessed by using willingness to pay approach. To obtain a more reliable estimation of crash cost for Indonesia, it is necessary to conduct a study on crash cost involving motorcycles which incorporates the estimation of human cost. The VoSL is obtained by interviewing motorcycle users for willingness to pay with safety equipment. Based on the analysis, it is obtained that the value of statistical life (VoSL) for fatality in a road crash was estimated to be Rp.2.3 billion. The unit cost of fatal injury is Rp.3.08 billion, serious injury is Rp.333 million and slight injury is Rp.24.9 million. The unit cost of fatal crash on arterial roads is Rp.3.23 billion, serious crash is Rp.451 million and the slight crash is Rp.114 million. The unit cost of fatal crash on collector roads is Rp.3.16 billion, serious crashes is Rp.381 million and minor crash is Rp.69.4 million. The unit cost of fatal crash on local roads is Rp.3.09 billion, serious crash is Rp.338 million, and minor crash is Rp.29.8 million. Keywords: Motorcycle crash cost, gross output approach, human capital approach, willingness to pay approach


1997 ◽  
Vol 17 (1) ◽  
pp. 5-12 ◽  
Author(s):  
Leigh S. Shaffer

Human capital, defined as any characteristic of a worker that contributes to that worker's productivity, is presented in this article as a unifying theme for academic advising in higher education. Five categories of human capital–formal education, adult education, on-the-job-training, health, and geographic mobility–and academic advising issues related to developing students' human capital in each category are presented. Students' vocational interests are identified with developing their human capital, and the principle of maximizing human capital is introduced as a basis for students' choices of academic curricula and particular courses and programs.


2016 ◽  
Vol 11 (28) ◽  
pp. 1637-1650
Author(s):  
Michael Haglund ◽  
Lauren Simpsom ◽  
Jonathan Chang ◽  
Anthony Fuller

Introduction: Although the majority of the global burden of disease occurs in low- and middle-income countries, there is a paucity of data surveillance and analysis on the incidence of, morbidity and mortality associated with, and economic costs attributable to traumatic brain injury (TBI).Methods: A prognostic model was used to estimate outcomes of conservative and neurosurgical treatment for severe TBI based on data from a cohort of patients at the national referral hospital, Mulago Hospital, in Uganda during a 13-month study period. To evaluate the long-term impact of treatment for severe TBI, averted DALYs were calculated and converted to dollars using the human capital and the value of a statistical life (VSL) approaches. This cohort was then used as a representative sample for assessing the benefit of treating severe TBI for all of Uganda.Results: During the study period, 127 cases of severe TBI were treated averting 1,448 DALYs [0,0,0], 1,075 DALYs [3,1,0.04], or 974 DALYs [3,1,0.03]. Using the human capital approach, the economic benefit of intervention ranged from $1.3 million to $1.7 million. The VSL approach estimated an economic benefit of $282,902 to over $11 million. The health benefit of treating severe TBI for all Ugandans was estimated at between about 11,000 and 17,000 averted DALYs per year with an annual potential economic benefit of $15 to $20 million as determined with the human capital approach and $3.3 to $130 million with the VSL approach.Discussion: Treatment of severe TBI in Uganda has the potential to reduce a significant proportion of morbidity, mortality, and economic burden, which indicates the importance of treating severe TBI in developing countries. 


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