Agricultural Economic Report No. (AER-784) 72 pp

December 1999

Assigning Values to Life: Comparing Methods for Valuing Health Risks

An examination of five approaches economists and health policy analysts have developed for evaluating policy affecting health and safety: cost-of-illness, willingness-to-pay, cost-effectiveness analysis, risk-risk analysis, and health-health analysis. Also examines the theoretical basis and empirical application of each approach and investigates the influence that assumptions embedded in each approach have on policy guidance.

Keywords: health, safety, health policy, cost-of-illness, willingness-to-pay, cost-effectiveness analysis, risk-risk analysis, health-health analysis

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Last updated: Wednesday, December 01, 1999

For more information contact: Fred Kuchler and Elise Golan