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

Björn Sund ()
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Björn Sund: Department of Business, Economics, Statistics and Informatics, Postal: Örebro University, Swedish Business School, SE - 701 82 ÖREBRO, Sweden

No 2010:4, Working Papers from Örebro University, School of Business

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.

Keywords: Contingent valuation; Value of a statistical life; Cardiac arrest (search for similar items in EconPapers)
JEL-codes: H43 I18 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2010-06-16
New Economics Papers: this item is included in nep-hea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:hhs:oruesi:2010_004

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