Difference between revisions of "Value of a life year (VOLY)"

Revision as of 12:21, 3 August 2009

Boxes with dashed borders contain brief guidance text for completing the entries for new variables.

Scope

This includes a verbal definition of the spatial, temporal, and other limits
(system boundaries) of the variable. The scope is defined according to the use
purpose of the assessment(s) that the variable belongs to.

Monetary value of a statistical life year derived from studies on societal willingness to pay (WTP) for mortality risk reductions.

Definition

Data

Description of the data used for obtaining the value of the variable
(e.g. measurement data; mathematical method and its parameters).
Please include references (preferably using the <ref></ref> tags)
and links to original data, as appropriate.

ExternE 2005 ^[1]

Results are based on a contingent valuation study on changes in life-expectancy conducted in France, UK, and Italy.

• Chronic mortality impacts (death after 10 years of exposure, 3% discount rate applied)
  • Upper bound: €151 110
  • Mean: €125 250
  • Median: €55 800 (rounded to €50 000, recommended central estimate)
  • Lower bound: €18 250
• Acute mortality impacts (immediate death, assumed that the victim's health condition is not a factor in WTP, no discount applied)
  • Upper bound: €225 000
  • Median: €75 000
  • Lower bound: €27 240
• A Weibull distribution is assumed because it had the best fit to the data
• Upper and lower bounds are considerably less robust than the central estimates

NEEDS 2006 ^[2]

Recommended mean VOLY estimates for Europe:

• EU15 + Switzerland €41 000
• New member countries €33 000
• EU25 €40 000

Causality

List of upstream variables.
The variables can be listed used descriptive (free-format) names or unambiguous identifiers
(e.g. Analytica IDs).

Unit

Unit in which the result is expressed.

euro/one statistical life year

Formula

Algebra or other explicit methods if possible
(e.g. Analytica code between the ''<anacode></anacode>'' delimiters).

Result

If possible, a numerical expression or distribution.

See also

Links to relevant information that does not belong to Definition.

References

Will appear here automatically, if cited above using the <ref></ref> tags.
Additional references can also be listed here.