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Economic Valuation in Practice – Health Effects and Benefit Transfer-Sharing new evidence and results for practical use in benefit cost analyses (HYBRID)
Time:
Monday, 16/June/2025:
4:00pm - 5:00pm
Session Chair: Olof Bystrom, OECD
Location:Auditorium C: Thore Johnsen
Session Abstract
The field of valuation of health effects for use in cost-benefit analysis and other policy assessments continues to develop rapidly. Over the past decade, thousands of new estimates have been published on the value of statistical life from around the world and evidence on morbidity is following a similar path. In this session we propose to share results and models for valuation of mortality and morbidity effects for use in practical decision making, based on the latest research and techniques available.
OECD published in 2025 a new report on the value of statistical life including base values for global regions and guidance on benefit transfer. This meta-analysis is based on nearly 4,000 estimates from revealed and stated preference studies around the world and represents the most comprehensive meta-analysis for VSL ever attempted. OECD also has developed substantial evidence on valuation of morbidity effects including asthma, kidney disease, non-fatal cancer, very low birth weight and several others.
Together these valuation methods and results form a robust basis for practical benefit cost analysis for assessment of environmental policies and also provide guidance on benefit transfer to different application, regions, and timelines. The session will include sharing of the latest findings from OECD and related research underway from leading academics on valuation, and will also feature policy makers who will discuss the practical applications of mortality and morbidity valuations in public policy.
Presentation of latest evidence on morbidity and mortality valuation (25 min)
o OECD’s VSL Meta-analysis (Henrik Lindhjem, Menon Economics)
o Valuation of selected morbidity effects (Damien Dussaux, OECD)
o Benefit transfer of morbidity and mortality valuation results (Damien Dussaux and Henrik Lindhjem)
Panel on application of VSL and morbidity effects in Benefit Cost Analysis (30 min)
Questions to be explored
• Key applications for mortality and morbidity effects
• Valuation cocktails – how to mix mortality and morbidity effects and transfer between endpoints, countries and over time
• Waning or Waxing? Is the use of economic valuations and CBA falling out of favour?
• Risks and needed research
Q&A (5 min)
Value to policy practitioners and researchers: The session will be of high value to policy practitioners in the areas of policy assessments and economic valuation of health impacts by offering insights on the latest techniques and information about the latest global data on mortality and morbidity valuation. Th research community will benefit from getting an improved understanding of, and access to, global meta-data and results as well as a very comprehensive compilation of mortality valuation literature.
Presentations
Economic Valuation in Practice – Health Effects and Benefit Transfer -Sharing new evidence and results for practical use in benefit cost analyses
Chair(s): Olof Bystrom (OECD)
Presenter(s): Lisa Robinson (Center for Health Decision Science, Harvard T.H. Chan School of Public Health), Susan Chilton (Newcastle University), Christoph Rheinberger (European Chemicals Agency), Damien Dussaux (OECD), Stephen White (European Commission), Henrik Lindhjem (Menon Economics)
