Systematic Review to Update 'Value of a Statistical Life' Estimates for Australia.

ABSTRACT: The value of a statistical life (VSL) estimates individuals' willingness to trade wealth for mortality risk reduction. This economic parameter is often a major component of the quantified benefits estimated in the evaluation of government policies related to health and safety. This study reviewed the literature to update the VSL recommended for Australian policy appraisals. A systematic literature review was conducted to capture Australian primary studies and international review papers reporting VSL estimates published from 2007 to January 2019. International estimates were adjusted for income differences and the median VSL estimate was extracted from each review study. VSL estimates were used to calculate the value of a statistical life year. Of the 18 studies that met the inclusion crit

SUBMITTER: Ananthapavan J 

PROVIDER: S-EPMC8201370 | biostudies-literature | 2021 Jun

REPOSITORIES: biostudies-literature