This paper enriches existing valuation literature in a number of ways by presenting context-specific estimates of immaterial damage. First, it offers an estimation of value of statistical life (VOSL) in the context of a natural hazard (flooding). Next, as one of the contributions, alongside with...

We examine how different welfarist frameworks evaluate the social value of mortality risk-reduction. These frameworks include classical, distributively unweighted cost-benefit analysis — i.e., the “value per statistical life” (VSL) approach — and three benchmark social welfare functions...

Benefit-cost analyses in public health typically calculate the benefits of mortality reduction interventions by multiplying the Value of a Statistical Life (VSL) and the expected decrease in fatalities. This procedure approximates the benefits of small mortality changes but is inaccurate for...

This paper develops and applies an integrated model of mortality and morbidity valuation that is consistent with principles of welfare economics. To obtain the integrated model, the standard one-period expected utility model of one person facing the prospect of either being alive or dead is...

In this study we report an attempt to measure the value adult Swedes impute to an increased survival probability at high ages. A rating scale between the worst possible quality of life (=3D1) and the best possible quality of life (=3D10) is used to indicate the quality of life a person expects...

This paper presents updated results for the cost of ambient air pollution in 41 countries: the 6 major emerging economies known as the BRIICS – Brazil, Russia, India, Indonesia, China and South Africa – and the 35 member-countries of the OECD. It draws on the epidemiological evidence base...

In evaluating the appropriate response to the COVID-19 pandemic, a key parameter is the rate of substitution between mortality risk and wealth or income, conventionally summarized as the value per statistical life (VSL). For the United States, VSL is estimated as approximately $10 million, which...

We use contingent valuation to elicit WTP for a reduction in the risk of dying for cardiovascular and respiratory causes, the most important causes of premature mortality associated with heat wave and air pollution, among the Italian public. The purpose of this study is three-fold. First, we...

This study comprehensively assesses the immediate effects of extreme weather conditions and high concentrations of ambient air pollution on population health. For Germany and the years 1999 to 2008, we link the universe of all 170 million hospital admissions, along with all 8 million deaths,...

This study comprehensively assesses the immediate effects of extreme weather conditions and high concentrations of ambient air pollution on population health. For Germany and the years 1999 to 2008, we link the universe of all 170 million hospital admissions, along with all 8 million deaths,...