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

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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. Anna Alberini, 2004. "Robustness of VSL Values from Contingent Valuation Surveys," Working Papers 2004.135, Fondazione Eni Enrico Mattei.
    2. 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.
    3. 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.

    More about this item

    Keywords

    Contingent valuation; Value of a statistical life; Cardiac arrest;

    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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