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What is the meaning of (statistical) life? Benefit–cost analysis in the time of COVID-19

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  • Jonathan Colmer

Abstract

Efforts to support public policy decisions need to be conducted carefully and thoughtfully. Recent efforts to estimate the social benefits of reductions in mortality risks associated with COVID-19 interventions are likely understated. There are large uncertainties over how much larger the social benefits could be. This raises questions about how helpful conventional approaches to valuing mortality and morbidity risks for benefit–cost analyses can be in contexts such as the current crisis.

Suggested Citation

  • Jonathan Colmer, 2020. "What is the meaning of (statistical) life? Benefit–cost analysis in the time of COVID-19," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 36(Supplemen), pages 56-63.
    • Handle: RePEc:oup:oxford:v:36:y:2020:i:supplement_1:p:s56-s63.
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    File URL: http://hdl.handle.net/10.1093/oxrep/graa022
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    Cited by:

    1. James Broughel & Michael Kotrous, 2021. "The benefits of coronavirus suppression: A cost-benefit analysis of the response to the first wave of COVID-19 in the United States," PLOS ONE, Public Library of Science, vol. 16(6), pages 1-20, June.
    2. Jaleel Jerry G. Sweis & Fatima Alnaimat & Valeria Esparza & Supritha Prasad & Abeera Azam & Zeel Modi & Mina Al-Awqati & Pim Jetanalin & Nadia J. Sweis & Christian Ascoli & Richard M. Novak & Israel R, 2024. "From Acute Infection to Prolonged Health Consequences: Understanding Health Disparities and Economic Implications in Long COVID Worldwide," IJERPH, MDPI, vol. 21(3), pages 1-18, March.
    3. Nicolò Gatti & Beatrice Retali, 2021. "Fighting the spread of Covid-19 : was the Swiss lockdown worth it?," IdEP Economic Papers 2101, USI Università della Svizzera italiana.

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