Assigning Values to Life: Comparing Methods for Valuing Health Risks

摘要

The resources to eliminate even a small portion of the hazards to life and health211u001edo not exist and policymakers must choose which hazard-control programs to fund. 211u001eThe most efficient use of resources is best gauged by comparing the costs and 211u001ebenefits of potential programs. However, where markets do not exist, or are 211u001eincomplete, it is difficult to accurately gauge the costs and benefits of program 211u001echoices. This report examines the major approaches economists and health policy 211u001eanalysts have developed for evaluating the benefits and costs of policy affecting 211u001ehealth and safety: cost-of-illness, willingness-to-pay, cost-effectiveness 211u001eanalysis, risk-risk analysis, and health-health analysis.