Volume 5 (2014)
Volume 4 (2013)
Volume 1 (2010)
Most Downloaded Articles
- Introduction to a special issue entitled Perspectives on Implementing Benefit-Cost Analysis in Climate Assessment by Sussman, Fran/ Grambsch, Anne/ Li, Jia and Weaver, Christopher P.
- Appropriate Discounting for Benefit-Cost Analysis by Burgess, David F and Zerbe, Richard O
- Integrated assessment of climate change: state of the literature by Weyant, John
- Embedding (some) benefit-cost concepts into decision support processes with deep uncertainty by Lempert, Robert J.
Skills of the trade: valuing health risk reductions in benefit-cost analysis
1Senior Fellow, Mossavar-Rahmani Center for Business and Government, Harvard Kennedy School, USA
2Harvard University (Center for Risk Analysis), USA and Toulouse School of Economics (LERNA-INRA), France
Citation Information: Journal of Benefit-Cost Analysis. Volume 4, Issue 1, Pages 107–130, ISSN (Online) 2152-2812, ISSN (Print) 2194-5888, DOI: 10.1515/jbca-2012-0006, March 2013
- Published Online:
Many public policies and private actions affect the risk of injury, illness, or death, yet changes in these risks are not easily valued using market prices. We discuss how to value these risk reductions in the context of benefit-cost analysis. We begin with a pragmatic focus, describing the analytic framework and the approaches currently used for valuation, including estimates of willingness to pay, cost of illness, and monetized quality-adjusted life years. We then turn to some conceptual issues that illustrate areas in need of further exploration.