Assigning Values to Life: Comparing Methods for Valuing Health Risks
- by Fred Kuchler and Elise Golan
- 12/1/1999
Overview
An examination of five approaches economists and health policy analysts have developed for evaluating policy affecting health and safety: cost-of-illness, willingness-to-pay, cost-effectiveness analysis, risk-risk analysis, and health-health analysis. Also examines the theoretical basis and empirical application of each approach and investigates the influence that assumptions embedded in each approach have on policy guidance.
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Entire report
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Frontmatter (Title page, Contents, Executive Summary)
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Introduction
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Why Must Costs and Benefits Influence Health and Safety Choices?
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How Do We Measure Costs and Benefits for Health and Safety Intervention? An Introduction to the Methodologies
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Cost-of-Illness Approach
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Willingness-to-Pay Approach
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COI and WTP--Is There a Middle Ground?
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Refraining from Assigning Values to Life and Health: Cost-Effectiveness Analysis
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Eliminating Dollars from Cost-Benefit Comparisons--Risk-Risk and Health-Health Analysis
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Conclusions
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References
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Appendix: Is COI a Lower Bound to WTP?
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