Value of a life year (VOLY)

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Moderator:Virpi Kollanus (see all)
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Scope

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(system boundaries) of the variable. The scope is defined according to the use
purpose of the assessment(s) that the variable belongs to.

Monetary value of a statistical life year derived from studies on societal willingness to pay (WTP) for mortality risk reductions.

Definition

Data

Description of the data used for obtaining the value of the variable
(e.g. measurement data; mathematical method and its parameters).
Please include references (preferably using the <ref></ref> tags)
and links to original data, as appropriate.

ExternE 2005

Results are based on a contingent valuation study (NewExt) on changes in life-expectancy conducted simultaneously in France, UK, and Italy. The objective of the study was to derive monetary unit value for the incidence of premature death resulting from air pollution in Europe. The survey protocol included people over the age of 40, with 1/3 of these above the age of 60.

• Chronic exposure mortality impacts (death after 10 years of exposure, 3% discount rate applied)
  • Upper bound: €151 110
  • Mean: €125 250
  • Median: €55 800 (rounded to €50 000, recommended central estimate)
  • Lower bound: €18 250
• Acute exposure mortality impacts (immediate death, assumed that the victim's health condition is not a factor in WTP, no discount applied)
  • Upper bound: €225 000
  • Median: €75 000
  • Lower bound: €27 240
• A Weibull distribution is assumed because it had the best fit to the data
• Upper and lower bounds are considerably less robust than the central estimates

Values used in CAFE CBA 2005

Values are based on the NewExt study

• Chronic exposure mortality impacts
  • Median: €52 000
  • Mean: €120 000

NEEDS 2006

Recommended mean VOLY estimates for Europe:

• EU15 + Switzerland €41 000
• New member countries €33 000
• EU25 €40 000

Causality

List of upstream variables.
The variables can be listed used descriptive (free-format) names or unambiguous identifiers
(e.g. Analytica IDs).

Unit

Unit in which the result is expressed.

euro/one statistical life year

Formula

Algebra or other explicit methods if possible
(e.g. Analytica code between the ''<anacode></anacode>'' delimiters).

Result

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See also

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References

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