The Cost of Saving a Statistical Life: A Case for Influenza Prevention and Control

Thomas W. Sproul (), David Zilberman, David Roland-Holst and Joachim Otte
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Thomas W. Sproul: University of Rhode Island
Joachim Otte: Food and Agriculture Organization of the United Nations

Chapter Chapter 8 in Health and Animal Agriculture in Developing Countries, 2012, pp 135-141 from Springer

Abstract: Abstract Billions of dollars have been spent on reducing the likelihood and severity of influenza pandemics originating in domesticated animals. These investments have global public-good properties and have to be shared. This chapter provides guidance for evaluating the benefits of flu-prevention expenditures and sharing their costs. Investments are valued by their implied statistical value of a life saved and are compared to a global average value that we construct. The results suggest that, if a $10 billion annual investment reduces the expected fatalities of a pandemic by 10%, then it is a reasonable or even very good investment. Our figures suggest that the United States should cover 20% and China 11% of the global public-good investment in flu risk reduction.

Keywords: Gross Domestic Product; Avian Influenza; Influenza Pandemic; Statistical Life; Source Country (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:nrmchp:978-1-4419-7077-0_8

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DOI: 10.1007/978-1-4419-7077-0_8

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