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Systematic review to update ‘value of a statistical life’ estimates for Australia

Ananthapavan, Jaithri, Moodie, Marj, Milat, Andrew J. and Carter, Rob 2021, Systematic review to update ‘value of a statistical life’ estimates for Australia, International journal of environmental research and public health, vol. 18, no. 11, pp. 1-17, doi: 10.3390/ijerph18116168.

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Title Systematic review to update ‘value of a statistical life’ estimates for Australia
Author(s) Ananthapavan, JaithriORCID iD for Ananthapavan, Jaithri orcid.org/0000-0002-5957-6931
Moodie, MarjORCID iD for Moodie, Marj orcid.org/0000-0001-6890-5250
Milat, Andrew J.
Carter, RobORCID iD for Carter, Rob orcid.org/0000-0002-1586-5619
Journal name International journal of environmental research and public health
Volume number 18
Issue number 11
Article ID 6168
Start page 1
End page 17
Total pages 17
Publisher MDPI
Place of publication Basel, Switzerland
Publication date 2021
ISSN 1661-7827
1660-4601
Keyword(s) cost-benefit analysis
DECISION-MAKING
DIFFERENTIALS
Environmental Sciences
Environmental Sciences & Ecology
GLOBAL VALUES
HEALTH
INCOME ELASTICITY
Life Sciences & Biomedicine
METAANALYSIS
MORTALITY RISK REDUCTIONS
Public, Environmental & Occupational Health
PUBLICATION SELECTION
ROAD SAFETY
Science & Technology
STATED PREFERENCE
systematic review
value of a statistical life
Summary 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 criteria, two studies were primary Australian studies with a weighted mean VSL of A$7.0 million in 2017 values. The median VSL in the review studies was A$7.3 million. For Australian public policy appraisals, we recommend the consideration of a base case VSL for people of all ages and across all risk contexts of A$7.0 million. Sensitivity analyses could use a high value of A$7.3 million and a low value that reflects the value (A$4.3 million) currently recommended by the Australian government.
Language eng
DOI 10.3390/ijerph18116168
Indigenous content off
HERDC Research category C1 Refereed article in a scholarly journal
Free to Read? Yes
Persistent URL http://hdl.handle.net/10536/DRO/DU:30152712

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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.