(衛(wèi)生經(jīng)濟(jì)學(xué)課件)CBA

1、( (衛(wèi)生經(jīng)濟(jì)學(xué)課件衛(wèi)生經(jīng)濟(jì)學(xué)課件)CBA)CBA7Difficulties of human capital approach In theory wage rates reflect the marginal productivity of a worker, but it may reflect inequities such as discrimination by race or gender. From a societal perspective the analyst would need to consider the value of healthy time gained

2、 that is not sold for a wage. Shadow price on non-marketed resources: opportunity cost of time a replacement cost 8Revealed preference approach To examine the relationship between particular health risks associated with a hazardous job and wage rates that individuals require to accept the job. The s

3、trength is that it is based on actual consumer choices involving health versus money, rather than hypothetical scenarios and preference statements. The weakness is that estimated values have varied widely and estimation seems to be context and job-specific. In the real life, the choice of job is not

4、 only depended on the risk. Many factors confound the relationship between wage and health risk.9Example of revealed preference Suppose jobs A and B are identical except that workers in job A have higher annual fatal injury risks such that, on average, there is one more job-related death per year fo

5、r every 10,000 workers in job A than job B, and workers in job A earn $500 more per year than those in job B. What is the implied value of statistical life?10Answer to the example of revealed preference The implied value of statistical life is then $5 million for workers in job B who are each willin

6、g to forgo $500 per year for a 1/10,000 lower annual death risk. 500 x 10,000 = 5,000,000 = 5 million11Stated preference approach (WTP) To use survey methods to present respondents with hypothetical scenarios about the program or problem under evaluation. Respondents are required to think about the

7、scenarios and to reveal the maximum they would be willing to pay for the program or benefit. In many ways CBA studies based on contingent valuation and statement of WTP can be thought of as attempts to replace missing markets, in an attempt to measure underlying consumer demand and valuation for non

8、-market social goods.12Example of WTP for road safety Suppose that you are buying a particular make of car. You can, if you want, choose to have a new kind of safety feature fitted to the car at an extra cost. The next few questions will ask about how much extra you would be prepared to pay for some

9、 different types of safety feature. You must bear in mind how much you personally can afford. The risk of a car driver being killed in an accident is 10/100,000. You could choose to have a safety feature fitted to your car which would have the risk of the car driver being killed, down to 5/100,000.

10、Taking into account how much you can personally afford, what is the most that you would be prepared to pay to have this safety feature fitted to the car?13Answer to the WTP example current risk of death without safety feature = 10/100,000 new risk with safety feature = 5/100,000 reduction in risk =

11、5/100,000 maximum WTP = $50 implied value of life = 50/5 x 10-5 =$1m14Global versus restricted WTP Three broad categories of benefits: intangible, future health care costs avoided and increased productive output. Restricted WTP only value those component of benefit for which no money values existed

12、from other market sources, thus only intangible (change in health). Global WTP value all the three categories of benefits.15Common methods to elicit WTP Open-ended question Bidding game Take-it-or-leave-it Payment card16Advantages and disadvantages Open-ended question Bidding game Take-it-or-leave-i

13、t Payment card17Cost-benefit analysisnttiiirtctbNSB11)1 ()()(NSBi = net social benefit of project i (discounted)bi(t) = benefits (in money terms) derived in year tci(t) = costs (in money terms) in year t1/(1+r) = discount factor at annual interest rate rn = lifetime of project (years)18Review questions Understanding concept of CBA What are the uses of CBA C