Citation

Ramsberg JA, Sjoberg L. Risk Anal. 1997; 17(4): 467-478.

Affiliation

Center for Risk Research, Stockholm School of Economics, Sweden.

Copyright

(Copyright © 1997, Society for Risk Analysis, Publisher John Wiley and Sons)

DOI

unavailable

PMID

9323873

Abstract

In this article, we discuss under what conditions an estimated cost per statistical life saved can be interpreted as an implied lifevalue. Furthermore, we state optimality conditions with respect to variation in implied lifevalues. The cost-effectiveness, together with references, are presented for 165 lifesaving interventions in Sweden. The cost-effectiveness of interventions has been found in publicly available analyses, or in some cases been calculated by us. Several of these interventions produce net savings for society. The most expensive interventions cost several hundred million SEK, or more, per life saved. To improve the comparability of the interventions, certain criteria have been used to standardize the estimates. Still, dissimilarities in the calculation of implied life values remain and the quality of the original data is in some cases uncertain. Despite this and the fact that the interventions are not a representative sample, it is nevertheless possible to conclude that implied life values vary greatly both within and between different sectors of the Swedish society, much in the same manner as in current U.S. analyses.

Language: en