June 21, 2018

BC3 Journal Article: Valuing deaths or years of life lost? Economic benefits of avoided mortality from early heat warning systems

The study aims to explore the main drivers influencing the economic appraisal of heat warning systems by integrating epidemiological modelling and benefit-cost analysis. To shed insights on heat wave mortality valuation, we consider three valuation schemes: (i) a traditional one, where the value of a statistical life (VSL) is applied to both displaced and premature mortality; (ii) an intermediate one, with VSL applied for premature mortality and value of a life year (VOLY) for displaced mortality; and (iii) a conservative one, where both premature and displaced mortality are quantified in terms of loss of life expectancy, and then valued using the VOLY approach. When applying these three schemes to Madrid (Spain), we obtain a benefit-cost ratio varying from 12 to 3700




María de Maeztu Excellence Unit 2023-2027 Ref. CEX2021-001201-M, funded by MCIN/AEI /10.13039/501100011033

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