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The value of a statistical life for out-of-hospital cardiac arrest victims

Author

Listed:
  • Sund, Björn

    (Department of Business, Economics, Statistics and Informatics)

Abstract

Background: Economic evaluation of policies regarding out-of-hospital cardiac arrest (OHCA) is important and we estimate the value of a statistical life (VSL) for OHCA victims. Method: Responses to a national Swedish mail survey in 2007, based on the stated-preference technique (contingent valuation) to directly elicit individuals hypothetical willingness to pay for a reduced risk of dying from OHCA. Results: VSL values are found to be higher than for comparable VSL estimates from the transport sector. A lower-bound estimate of VSL for OHCA would be around SEK 20-30 million. Conclusions: The results in this paper indicates that it is not an overestimation to use the „baseline VSL value from the transport sector (SEK 22 million) in cost-benefit analysis of OHCA policy decisions. We do not support a senior death discount for this cause of death.

Suggested Citation

  • Sund, Björn, 2010. "The value of a statistical life for out-of-hospital cardiac arrest victims," Working Papers 2010:4, Örebro University, School of Business.
    • Handle: RePEc:hhs:oruesi:2010_004
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    References listed on IDEAS

    as
    1. Johannesson, Magnus & Johansson, Per-Olov & Lofgren, Karl-Gustaf, 1997. "On the Value of Changes in Life Expectancy: Blips versus Parametric Changes," Journal of Risk and Uncertainty, Springer, vol. 15(3), pages 221-239, December.
    2. Anna Alberini, 2004. "Robustness of VSL Values from Contingent Valuation Surveys," Working Papers 2004.135, Fondazione Eni Enrico Mattei.
    3. Klose, Thomas, 1999. "The contingent valuation method in health care," Health Policy, Elsevier, vol. 47(2), pages 97-123, May.
    4. Alan Krupnick, 2007. "Mortality-risk Valuation and Age: Stated Preference Evidence," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 1(2), pages 261-282, Summer.
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    Cited by:

    1. Sund, Björn, 2012. "Effect of response times on survival from out-of-hospital cardiac arrest: using geographic information systems," Karlstad University Working Papers in Economics 4, Karlstad University, Department of Economics.
    2. Björn Sund & Leif Svensson & Mårten Rosenqvist & Jacob Hollenberg, 2012. "Favourable cost-benefit in an early defibrillation programme using dual dispatch of ambulance and fire services in out-of-hospital cardiac arrest," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 13(6), pages 811-818, December.

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    More about this item

    Keywords

    Contingent valuation; Value of a statistical life; Cardiac arrest;
    All these keywords.

    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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