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Valuing mortality and morbidity in the context of disaster risks

Author

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  • L. Cropper, Maureen
  • Sahin, Sebnem

Abstract

Benefit-cost analyses of disaster risk reduction (DRR) projects are an important tool for evaluating the efficiency of such projects, and an important input into decision making. These analyses, however, often fail to monetize the benefits of reduced death and injury. The authors review the literature on valuing reduced death and injury, and suggest methods for calculating order-of-magnitude estimates of these benefits. Because few empirical estimates of the Value of a Statistical Life (VSL) are available for developing countries, methods for transferring estimates from high income to middle and low income countries are reviewed. The authors suggest using the range of values implied by an income elasticity of 1.0 and an elasticity of 1.5. With regard to injury valuation they discuss arguments for and against monetizing Quality Adjusted Life Years, and provide shortcuts to valuing injuries that may be used to assess their importance in DRR benefit-cost analyses.

Suggested Citation

  • L. Cropper, Maureen & Sahin, Sebnem, 2009. "Valuing mortality and morbidity in the context of disaster risks," Policy Research Working Paper Series 4832, The World Bank.
    • Handle: RePEc:wbk:wbrwps:4832
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    Cited by:

    1. Aditi Kharb & Sandesh Bhandari & Maria Moitinho de Almeida & Rafael Castro Delgado & Pedro Arcos González & Sandy Tubeuf, 2022. "Valuing Human Impact of Natural Disasters: A Review of Methods," IJERPH, MDPI, vol. 19(18), pages 1-11, September.
    2. Shihomi Ara & Cem Tekeşin, 2017. "The Monetary Valuation of Lifetime Health Improvement and Life Expectancy Gains in Turkey," IJERPH, MDPI, vol. 14(10), pages 1-27, September.
    3. -, 2015. "La economía del cambio climático en América Latina y el Caribe: paradojas y desafíos del desarrollo sostenible," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 37310 edited by Cepal.
    4. Stefan Hochrainer-Stigler & JoAnne Linnerooth-Bayer & Junko Mochizuki, 2019. "Flood Proofing Low-Income Houses in India: an Application of Climate-Sensitive Probabilistic Benefit-Cost Analysis," Economics of Disasters and Climate Change, Springer, vol. 3(1), pages 23-38, April.
    5. E. Michel‐Kerjan & S. Hochrainer‐Stigler & H. Kunreuther & J. Linnerooth‐Bayer & R. Mechler & R. Muir‐Wood & N. Ranger & P. Vaziri & M. Young, 2013. "Catastrophe Risk Models for Evaluating Disaster Risk Reduction Investments in Developing Countries," Risk Analysis, John Wiley & Sons, vol. 33(6), pages 984-999, June.
    6. Parry, Ian & Strand, Jon, 2012. "International fuel tax assessment: an application to Chile," Environment and Development Economics, Cambridge University Press, vol. 17(2), pages 127-144, April.
    7. Wiens, Marcus & Mahdavian, Farnaz & Platt, Stephen & Schultmann, Frank, 2020. "Optimal evacuation-decisions facing the trade-off between early-warning precision, evacuation-cost and trust - the Warning Compliance Model (WCM)," Working Paper Series in Production and Energy 47, Karlsruhe Institute of Technology (KIT), Institute for Industrial Production (IIP).
    8. Shyam KC, 2013. "Cost Benefit Studies on Disaster Risk Reduction in Developing Countries," World Bank Publications - Reports 16111, The World Bank Group.
    9. Ahmed Tauqeer Zahid & Farooq AhmadKhan, 2017. "Cost Mitigation of Natural Disasters through Insurance," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 8(3), pages 16-25, September.
    10. Baez, Javier E. & de la Fuente, Alejandro & Santos, Indhira, 2010. "Do Natural Disasters Affect Human Capital? An Assessment Based on Existing Empirical Evidence," IZA Discussion Papers 5164, Institute of Labor Economics (IZA).
    11. Kenny, Charles, 2009. "Why do people die in earthquakes ? the costs, benefits and institutions of disaster risk reduction in developing countries," Policy Research Working Paper Series 4823, The World Bank.
    12. Arturo Antón Sarabia & Fausto Hernández Trillo, 2019. "Internalizando externalidades: El impuesto a la gasolina en Guatemala," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 14(1), pages 1-20, Enero-Mar.
    13. Mehdi Sadeghi & Stefan Hochrainer-Stigler & Mohsen Ghafory-Ashtiany, 2015. "Evaluation of earthquake mitigation measures to reduce economic and human losses: a case study to residential property owners in the metropolitan area of Shiraz, Iran," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 78(3), pages 1811-1826, September.
    14. Aniruddh Mohan & Nicholas Z. Muller & Akshay Thyagarajan & Randall V. Martin & Melanie S. Hammer & Aaron van Donkelaar, 2020. "The Growth of Nations Revisited: Global Environmental Accounting from 1998 to 2018," NBER Working Papers 27398, National Bureau of Economic Research, Inc.
    15. Cropper, Maureen & Khanna, Shefali, 2014. "How Should the World Bank Estimate Air Pollution Damages?," RFF Working Paper Series dp-14-30, Resources for the Future.
    16. Taghizadeh, Mehdi & Mahsuli, Mojtaba & Poorzahedy, Hossain, 2023. "Probabilistic framework for evaluating the seismic resilience of transportation systems during emergency medical response," Reliability Engineering and System Safety, Elsevier, vol. 236(C).
    17. World Bank, 2013. "Turkey Green Growth Policy Paper : Towards a Greener Economy," World Bank Publications - Reports 16088, The World Bank Group.
    18. Roumasset, James & Ravago, Majah-Leah & Jandoc, Karl & Arellano, Clarissa, 2016. "Environmental Resources, Shocks, and National Well-Being," MPRA Paper 87715, University Library of Munich, Germany.
    19. Ludovic Gaudard & Franco Romerio, 2015. "Natural hazard risk in the case of an emergency: the real options’ approach," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 75(1), pages 473-488, January.

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