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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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    Citations

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    Cited by:

    1. 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.
    2. Parry, Ian & Strand, Jon, 2012. "International fuel tax assessment: an application to Chile," Environment and Development Economics, Cambridge University Press, vol. 17(02), pages 127-144, April.
    3. Cropper, Maureen & Khanna, Shefali, 2014. "How Should the World Bank Estimate Air Pollution Damages?," Discussion Papers dp-14-30, Resources For the Future.
    4. World Bank, 2013. "Turkey Green Growth Policy Paper : Towards a Greener Economy," World Bank Other Operational Studies 16088, The World Bank.
    5. Shyam KC, 2013. "Cost Benefit Studies on Disaster Risk Reduction in Developing Countries," World Bank Other Operational Studies 16111, The World Bank.
    6. 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 for the Study of Labor (IZA).
    7. 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.
    8. 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.

    More about this item

    Keywords

    Health Monitoring&Evaluation; Transport Economics Policy&Planning; Economic Theory&Research; Hazard Risk Management; Environmental Economics&Policies;

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