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Is prevention of suicide worth less? A comparison of the value per statistical life

Author

Listed:
  • Vimefall Elin

    (Örebro University)

  • Persson Mattias

    (Örebro University)

  • Olofsson Sara

    (Swedish Institute for Health Economics)

  • Hultkrantz Lars

    (Örebro University)

Abstract

This paper compares the value per statistical life (VSL) in the context of suicide prevention to that of prevention of traffic fatalities. We conducted a contingent valuation survey with questions on willingness to pay (WTP) in both contexts by administering a web questionnaire to 1038 individuals aged 18 to 80. We conjectured that WTP for a given impact on the number of fatalities would be lower for suicide prevention because suicide, at least to some degree, is the result of individuals’ own decisions. However, this hypothesis was not supported by the within- or between-sample estimates of WTP or by responses to direct questions. Hence, no support is provided for the use of a lower valuation of the impact of suicide prevention than for risk-reducing programs in other fields, such as traffic safety. This implies that the same VSL should be used for evaluating suicide prevention interventions and for risk-reducing programs in other policy areas and funds for the prevention of fatalities should be directed to the area with the lowest cost per life saved.

Suggested Citation

  • Vimefall Elin & Persson Mattias & Olofsson Sara & Hultkrantz Lars, 2022. "Is prevention of suicide worth less? A comparison of the value per statistical life," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 23(2), pages 261-275, March.
    • Handle: RePEc:spr:eujhec:v:23:y:2022:i:2:d:10.1007_s10198-021-01361-6
    DOI: 10.1007/s10198-021-01361-6
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    More about this item

    Keywords

    Value of statistical life; Willingness to pay; Mental health; Cost–benefit; Altruism;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income

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