Value Of Statistical Life Research Articles

Factors influencing the willingness to pay for motorcycle safety improvement: A structural equation modeling approach

This study proposes a method for evaluating losses sustained from motorcycle crashes in Thailand, utilizing the willingness to pay (WTP) approach. Value of statistical injury and Value of statistical life were used to identify the value. Structural equation modeling (SEM) using TBP as a framework found that behavioral intention, attitudes, and perceived behavioral control influence motorcycle drivers' WTP in Thailand. The WTP for reducing fatalities from motorcycle crashes is US$4.41 to 4.98, and the WTP to mitigate injury risks is US$23.49 to 24.53. Additionally, the study calculates the value of statistical life (VOSL) to be in the range of US$0.055 to 0.062 million and the value of statistical injury (VOSI) to be between US$0.188 to 0.194 million. This study can be used to inform budget allocation and policy formulation to reduce the risks of motorcycle road crashes.

Studying the economic burden of premature mortality related to PM2.5 and O3 exposure in Greece between 2004 and 2019

The detrimental direct effects of air pollution on public health have been well-determined; however, of relevant importance are also the indirect effects on the economy. Based on the value of statistical life (VSLs) and the willingness to pay (WTP) method, we estimated the economic cost resulting from premature mortality associated with fine particulate matter (PM2.5) and ground-level ozone (O3) exposure across Greece during 2004–2019, under a constant and a changing income elasticity scenario. The spatiotemporal trends of the economic burden were also investigated. The total economic burden attributable to premature mortality due to exposure to PM2.5 and O3 for the 16-year period was estimated at € 66.34 billion under the constant scenario and at € 273.65 billion under the changing scenario. A dramatic decline of the mortality cost was observed from 2009 to 2019 in the changing scenario, reflecting various socio-economic factors and income losses, as opposed to a less profound downward trend under the constant scenario, where the annual Gross Domestic Product (GDP) and Consumer Price Index (CPI) variances were not taken into account. During the study period, PM2.5 contributed the most to the economic loss, while the contribution of O3 was much less. The spatiotemporal patterns observed here may prove an effective means of communicating these trends to policy-makers and may feed the design of strategies for protecting public health and safeguarding the economic growth.

Econometric models derived from meta-analysis to estimate VSL and VOLY associated to air pollution at a global level: preliminary results

Abstract Epidemiological research has shown a strong correlation between air pollution and risk of premature death. Among the damage costs of air pollution, premature mortality is by far the largest contributor, hence accounting for the number of deaths linked to poor air quality has become a key environmental indicator. Monetizing reductions in risks of death through cost-benefit analyses can be useful to create efficient public policies aiming at improving air quality. The benefits of prevented mortalities can be expressed in terms of a Value of a Statistical Life (VSL), an economic parameter representing individuals’ willingness to exchange wealth for mortality risk reduction. In addition, the monetary Value Of a Life Year (VOLY) is also an important parameter to be measured, as it considers the change in life expectancy associated with air pollution. However, determining reliable estimates of VSL and VOLY can be challenging, as the methods employed in different studies can vary widely between, and even within, countries. Furthermore, most countries have insufficient and unreliable VSL and VOLY estimates. Lack of country-specific data and common methodology makes it difficult to assess climate policy at a global scale. To address this gap, a meta-analysis of existing literature is conducted to develop econometric models for estimating VSL and VOLY on a global level. The comprehensive search of articles and databases revisits established quantification methodologies for air pollution related mortality, which results in an extensive database of empirical data on VSL and VOLY estimates. Based on this new and updated database, transfer functions of VSL and VOLY are estimated for specific pollutants and different countries, according to each country's distinctive characteristics.

Disease costs due to outdoor ambient particulate matter pollution in Germany, 2018

Abstract Introduction In addition to the population health effects of outdoor ambient particulate matter pollution (PM2.5), estimates of the costs related to these health impacts are increasingly requested to inform policy decision-making processes. Within the UKAGEP-project the burden of disease due to PM2.5 in Germany was monetized. Methods First, the disease burden attributable to PM2.5 in Germany for the year 2018 was estimated using the Environmental Burden of Disease approach. To estimate the monetary impact of PM2.5, two approaches were followed. We applied the Value of Statistical Life (VSL) approach, using a monetary value of about 6.3 (2.4-7.2) million € attached to each death case. Further, we used the Value Of a statistical Life Year (VOLY) approach, attaching a monetary value of 58,623 (36.646-146.582) € to the loss of a life year. Statistical uncertainties in both the disease burden results and the VSL and VOLY values were considered, presenting a lower and upper estimate of the overall disease costs. Results In 2018, the overall burden of disease attributable to PM2.5 was 209,702 (194,265-391,112) Disability-Adjusted Life Years. Using the VOLY-approach, this corresponds to disease costs of about 17 (7-57) billion €. In contrast, when using the VSL-approach, the estimated 15,652 (10,390-21,466) deaths attributable to PM2.5 in this year result in disease costs of about 98 (25-124) billion €. Conclusions In comparison with other cost assessments, connecting EBD estimates with the VSL- and VOLY-approach allows to include indirect and intangible costs and not to simply focus on the disease treatment costs. The VSL-approach leads to remarkably higher costs because it does not take into account the age at the time of death and thus attaches the same monetary value to each death case. We recommend to use the VOLY-approach because it considers the remaining life expectancy. Key messages • Air pollution causes considerable disease costs in Germany. • We recommend to use the VOLY-approach because it considers the remaining life expectancy.

Air pollution costs in Western Balkans’ cities

Abstract Poor air quality is responsible for increased risk of mortality which global cost in in 2019 was associated with 4.1 million premature deaths globally. The Western Balkans were selected for this study because the levels of particulate matter and ozone are frequently above the EU Air Quality Directive guidelines. Air pollution health impact (mortality and morbidity) assessment was carried out using the attributable fraction approach based on different relative risk attribution methodologies: concentration response functions (CRF) and integrated exposure responses (IER). Air pollution costs were estimated using the value of statistical life (VSL) and the value of life year (VOLY) attributable to air pollution obtained with the benefit transfer method (BT) from a global database of non-market welfare-based unit costs. The health impact and related external costs attributable to air pollution in 2019 were assessed in 30 urban areas of the Western Balkans region, one of Europe's air pollution hot spots. The evaluation was based on PM2.5, O3 and NO2 concentrations in 2019. The average cost of mortality attributable to PM2.5 in 26 urban areas was above 200 million Euro per city while the ones of O3 and NO2 were 4 times lower than PM2.5. The study results suggest that the economic burden of air pollution per capita and compared to the GDP in the Western Balkans is higher than the one observed in EU27 in the same time window.

3.E. Workshop: Air pollution health impacts and costs in EU accessing countries

Abstract Air pollution is detrimental for health, climate, national economies and well-being in the European Union (EU) and in EU candidate countries. In many locations air quality levels are above the EU or national legal standards and/or the guidelines recommended by the World Health Organization. Very often EU neighbours and countries in the process of accessing the EU are disproportionately more affected by the impact of air pollution than others. The newest global evidence is suggesting that human health is affected even at low pollution levels below the current European standards and WHO guideline values. In 2021, the WHO published new air quality guidelines structured in Intermediate targets and final targets which are lower than the previous recommendations published in 2005. Estimating the costs of air pollution requires analysis of extensive data sets by means of econometric and statistical methodologies. In this session is discussed the assessment at country level for Europe and worldwide which is particularly valuable for estimating statistical value of life (VSL) and the value of a life year (VOLY) for counties that have not been the focus of global estimations so far. Moreover, this workshop adds valuable new information on the Western Balkans and Ukraine that could be used in systematic efforts to develop evidence-based air pollution reduction plans and to track progress toward reducing air pollution and consequently the health impacts. The studies included in this session represent valuable efforts to acquire evidence in support of further alignment of national air quality policies with those of the EU. Key messages • The newest evidence supports efforts to further aligning the Western Balkans and Ukrainian air quality policies with those of the EU and contribute to national and local implementation. • The meta-analysis of existing literature leads to the development of econometric models for estimating VSL and VOLY at country level worldwide.

A Multi-Hazard Risk Assessment Framework for Urban Disaster Prevention Planning: A Case Study of Xiamen, China

Understanding and measuring the relative risk level of a city facing multi-hazards is fundamental to improving its disaster prevention planning and schemes. A comprehensive risk evaluation approach stands at the intersection of risk management and disaster system theory. It is also an important interdisciplinary field of catastrophology, economics, and urban infrastructure planning. We believe that current attempts to define and measure comprehensive urban natural disaster risks have certain limitations. Therefore, we propose an Urban Multi-hazards Risk Assessment Framework (UMRAF) which draws on definitions, methods, and experience from risk management, evaluation of property, the value of statistical life, and disaster system theory. It contains local disaster identification, place-based risk assessment (taking into account more than one hazard at a time), urban anti-disaster capability assessment, and relative composite risk index measurement. In our case study of Xiamen, China, to check the feasibility of our UMRAF, we examined local multi-hazards risk distribution and urban anti-disaster capacity layout. We then expanded and visualised the spatial distribution of the relative composite risk index of each evaluation unit across the city via our analyst tool, thereby helping to tailor measures that can reduce risk at a local level.

The value of a statistical life in reducing fire risk: A choice experiment among dutch citizens

Getting insight in the value of a statistical life (VOSL) attributed by the public to a specific risk such as dying from a house fire is important for policy makers to decide upon investments in risk policies. We conduct a choice experiment among 504 Dutch citizens, including trade-offs between a reduction in the probability of dying from a house fire and tax increases, to derive the VOSL in the Dutch context of fire risk. We estimate a random parameters logit model, allowing for heterogeneity in citizen preferences. We find that after correcting for choice anomalies among respondents our VOSL estimate is around EURO 15–22 million.

Multilevel structural equation modeling of willingness-to-pay for fatality risk reduction: perspectives of driver and district levels

Road accidents remain a serious problem and directly affect drivers. Therefore, the perspectives of drivers are important in improving road safety. The objectives of this study are to empirically examine damage due to road accidents using the willingness-to-pay (WTP) approach and to analyze the factors that influence WTP at the driver and district levels. This study obtained data on WTP derived from car drivers across Thailand, which covers 96 districts. The value of statistical life was 824,344 USD per fatality (2,296 million USD annually). The results of Multilevel Structural Equation Modeling revealed a statistically important insight. At the driver level, the Health Belief Model and sociodemographic exert influence on the intention to pay. The demographic factor that has the greatest influence on perceived risk and leads to a high intention to pay is the working age group (γ = 0.826). However, when considering the HBM, perceived susceptibility (γ = 0.901) emerges as the most valuable factor influencing drivers’ concerns about road accidents. On the other hand, district-level factors have a negative influence on the intention to pay for road safety measures. Among these factors, the law enforcement (γ = −0.555) practices implemented by local authorities have the most significant impact on drivers’ perspectives and intentions regarding WTP. This finding can be used as a guideline for budget allocation and policy recommendation for policymakers in improving road safety according to the area contexts.

Cost-benefit analysis of alternative tax policies on sugar-sweetened beverages in Mexico.

In 2014, Mexico implemented a tax on sugar-sweetened beverages (SSB) equivalent to one Mexican peso (MP) per liter to address the high obesity prevalence. This tax has effectively reduced SSB purchases and yielded healthcare savings; however, it remains unknown whether SSB taxes lead to net benefits at the societal level in Mexico. Moreover, public health experts recommend increasing the tax. The objective of this study is to estimate the net benefits of SSB taxes compared to a scenario of no tax in urban Mexico. Taxes include the one-MP tax and alternative higher taxes (two and three MP per SSB liter). Thus, we conducted a cost-benefit analysis from the perspective of the government, producers, and consumers for a simulated closed cohort of adults in a life-table model. We defined net benefits as the difference between economic benefits (the value of statistical life, healthcare savings, and tax revenue) and costs (consumer surplus and profit losses). We found that, at the societal level, all simulated taxes will eventually generate benefits that surpass costs within ten years. Overall net benefits can reach USD 7.1 billion and 15.3 billion for the one-MP and the three-MP tax, respectively. Hence, these benefits increased at a declining rate compared to taxes. The government and consumers will experience overall positive net benefits among society's members. Policymakers should consider time horizons and tradeoffs between health gains and economic outcomes across different society members.

Global health burden and cost of lead exposure in children and adults: a health impact and economic modelling analysis

Lead exposure is a worldwide health risk despite substantial declines in blood lead levels following the leaded gasoline phase-out. For the first time, to our knowledge, we aimed to estimate the global burden and cost of intelligence quotient (IQ) loss and cardiovascular disease mortality from lead exposure. In this modelling study, we used country blood lead level estimates from the Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2019. We estimated IQ loss (presented as estimated loss in IQ points with 95% CIs) in the global population of children younger than 5 years using the blood lead level-IQ loss function from an international pooled analysis. We estimated the cost of IQ loss, which was calculated only for the proportion of children expected to enter the labour force, as the present value of loss in lifetime income from the IQ loss (presented as cost in US dollars and percentage of gross domestic product with a range). We estimated cardiovascular deaths (with 95% CIs) due to lead exposure among people aged 25 years or older using a health impact model that captures the effect of lead exposure on cardiovascular disease mortality that is mediated through mechanisms other than hypertension. Finally, we used values of statistical life to estimate the welfare cost of premature mortality (presented as cost in US dollars and percentage of GDP). All estimates were calculated by World Bank income classification and region (for low-income and middle-income countries [LMICs] only) for 2019. We estimated that children younger than 5 years lost 765 million (95% CI 443-1098) IQ points and that 5 545 000 (2 305 000-8 271 000) adults died from cardiovascular disease in 2019 due to lead exposure. 729 million of the IQ points lost (95·3% of the total global IQ loss) and 5 004 000 (90·2% of total) cardiovascular disease deaths due to lead exposure occurred in LMICs. IQ loss in LMICs was nearly 80% higher than a previous estimate. Cardiovascular disease deaths were six times higher than the GBD 2019 estimate. The global cost of lead exposure was US$6·0 trillion (range 2·6-9·0) in 2019, which was equivalent to 6·9% (3·1-10·4) of the global gross domestic product. 77% (range 70-78) of the cost was the welfare cost of cardiovascular disease mortality, and 23% (22-30) was the present value of future income losses from IQ loss. Our findings suggest that global lead exposure has health and economic costs at par with PM2·5 air pollution. However, much work remains to improve the quality of blood lead level measurement data, especially in LMICs. The Korea Green Growth Trust Fund and the World Bank's Pollution Management and Environmental Health Program.

Valuing mortality attributable to present and future temperature extremes in Argentina

This study analyzes the weather-related health damage of present and future extreme temperatures in Argentina. Focusing on mortality, short-term impacts of temperature are obtained by regressing monthly mortality rates on inter-annual monthly weather variability. For this purpose, a countrywide panel dataset at the municipal level was constructed from the universe of deaths between 2010 and 2019, and daily meteorological records from the ERA5 weather dataset. Then, NASA Earth Exchange Global Daily Downscaled Projections (NEX-GDDP) are used to project future mortality by 2085 under two climate scenarios. Finally, present and future mortality-related economic damages are assessed using the Value of a Statistical Life. The results show that one additional day of extreme temperatures increase all-cause mortality rates relative to mild weather and that the impact of hotter-than-average temperatures is greater in magnitude than that of colder ones. Substantial heterogeneity exists between causes of death and age groups, with older people facing greater risks, while the results for gender are inconclusive. All days of extreme cold in a year generate damage equivalent to 0.64% of GDP, while heat damage is 0.11% of GDP. The total damage by extreme temperatures adds up to 0.75% of the 2019 GDP. When future temperatures are valued, the total damage increases by an additional 1.45% under scenario RCP8.5 because the lower mortality occurring on cold days only partially offsets the increase in the number of hot days. On the contrary, if temperature changes were to be mild (i.e., under scenario RCP4.5), overall mortality would be lower at the national level and the corresponding damages would decrease by 0.02%.

Air pollution and willingness to pay for health risk reductions in Egypt: A contingent valuation survey of Greater Cairo and Alexandria households

Egypt ranks first worldwide for the number of deaths attributable to PM2.5 air pollution, yet the economic value of improved air quality and the value of reducing mortality risk due to industrial air pollution has never been evaluated using primary data for Egypt. In this paper, we fill this gap focusing on the Greater Cairo and Alexandria metropolitan areas, where more than 80 percent of the country’s industrial activities take place. We find that 73% of the 1051 surveyed households are supportive of improved air quality strategy and a reduction by 50 percent from current level of pollution is valued between 212 and 302 LE per month (13.5–19.3US$). The health risk reduction is measured with Value of Statistical Life (VSL) measures that range between 3.81 and 7.0 million LE (242,675–446,000US$). The results confirm that residents are sensitive to environmental air quality levels. Furthermore, when provided with information about the health consequences of pollution, survey respondents increased both their level of support for the policy, and their Willingness to Pay for it.

Economic costs related to foodborne disease in Burkina Faso and Ethiopia in 2017

IntroductionFoodborne diseases (FBD) are a significant problem in low- and middle-income countries, especially in Africa. Country-specific estimates of the economic costs related to FBD caused by different hazards in different food products can inform decision makers about this problem’s magnitude. This aids policy makers in prioritising actions to mitigate risks and prevent illness. Although estimates exist for many high-income countries, they are lacking for African countries.MethodsThis study estimates economic cost in Burkina Faso and Ethiopia related to FBD caused by non-typhoidal Salmonella enterica (NTS), Campylobacter spp. (CAMP) and enterotoxigenic Escherichia coli (ETEC) in all foods, chicken meat and tomatoes. The World Health Organization’s estimates of FBD burden, updated from 2010 to 2017, were used as a basis. Economic cost estimates were the sum of estimates of willingness-to-pay (WTP) to reduce risk of death and of pain and suffering, and lost productivity. WTP was based on value of statistical life (VSL) and value of statistical life year (VSLY), extrapolated from USA data. We used sensitivity options to account for uncertainty in these values.ResultsMean economic costs related to FBD caused by NTS, CAMP and ETEC in 2017 were estimated at 391 million constant 2017 international dollars in Burkina Faso and 723 million in Ethiopia. These represent 3.0% of gross national income in Burkina Faso and 0.9% in Ethiopia. Lost productivity contributed 70%, WTP to reduce risk of death 30%, and WTP to reduce risk of pain and suffering 1-2%. NTS caused the highest costs, followed by ETEC and CAMP. Chicken meat caused 9-12 times higher costs than tomatoes. Children under five years (14.6-17.1% of populations) bore 20-75% of the costs. Due to uncertainty in disease burden and economic data, costs could be four times higher than mean estimates.DiscussionPolicies to control FBD likely result in substantial benefits, especially efforts aiming at this study’s hazards in chicken meat and children under 5 years. Efforts to reduce uncertainty in VSL, VSLY and disease burden estimates, estimate costs for other countries, attribute costs to other food products and hazards, further standardise estimation methodologies, and estimate treatment costs and illness prevention expenditures are recommended.

Compensating Wage Differentials in Labor Markets: Empirical Challenges and Applications

The model of compensating wage differentials is among the cornerstone models of equilibrium wage determination in labor economics. However, empirical estimates of compensating differentials have faced persistent credibility challenges. This article summarizes the Rosen model of compensating differentials and chronicles the advances, setbacks, and lessons learned from empirical studies. The progression from cross-sectional to panel models alleviated biases caused by unobserved human capital but yielded new insights into the importance of other biases, including those caused by labor market frictions and endogenous job mobility. I discuss recent approaches that use matched employer-employee data and quasi-random variation in job amenities to address some of these challenges. I then present two examples of applications of compensating differentials: the evaluation public health and safety policies that rely on the value of statistical life, and the measurement and interpretation of earnings inequality.

A risk-risk trade-off assessment of climate-induced mortality risk changes.

The impact of climate change on human health was identified as a priority for the UN COP26 conference. In this article, we consider climate-induced changes to mortality risks and how to incorporate these formally in the policy appraisal process. In the United Kingdom (UK), the Value of Statistical Life (VSL) is used to monetarize the benefits of policies to reduce mortality risks but it remains an open, empirical question as to whether the current VSL (£2.14 million per fatality prevented, December 2021 values) for traffic accidents should be applied in other contexts without any modification and particularly for extreme weather event fatalities. Using a representative sample of the UK population, we aim to estimate and better understand the trade-offs people make when comparing mortality risks, drawing on psychological insights from construal level and regulatory focus theories. We design a stated preference survey using a relative valuation framework with nonmonetary, risk-risk trade-off questions between extreme weather event and traffic accident mortality risks. We find evidence of an extreme weather event risk premium of 1.2-1.6 (implying a climate-related VSL of £2.52-£3.41 million). We also find that participants who are psychologically close to climate change (based on construal level theory), weigh reducing extreme weather event mortality risks almost two times that of reducing traffic accident mortality risks.

EXTERNAL COSTS OF ROAD TRANSPORTIN THE CONTEXT OF TRANSITION TO LOW-CARBON ECONOMY: RUSSIAN EXPERIENCE

To make the transition to a low-carbon economy and sustainable transport system, to solve environmental and climate problems, many countries are replacing traditional cars that run on petroleum fuel with electric cars. Unlike vehicles with an internal combustion engine (ICE),electric vehicles` emission from operation phase are practically zero, but this is not the case if we consider a full life cycle. In this paper, we briefly describe the electric vehicle market, examine the life-cycle emissions of electric cars and ICE cars, propose a methodological approach to the economic assessment of negative impact of emissions from road transport, carry out a comparative assessment of external costs of cars that run on traditional and alternative fuel. To achieve these goals, we use the methodology of the Organization for Economic Cooperation and Development (OECD), which allows to calculate country-specific and time-adjusted value of a statistical life, and consider the characteristics of Russia`s energy balance and automotive market. The results demonstrate that, in general, under Russian conditions, electric cars are more environmentally friendly and contribute less to climate change than cars with internal combustion engines. The external costs caused by life-cycle greenhouse gas emissions of an electric car are lower than similar emissions from a traditional car by about 70 rubles per 100 km. The external costs caused by emissions of pollutants from the electric car operationphase are lower than external costs caused by emissions from an ICE car by approximately20 rubles per 100 km.

Lives Saved versus Time Lost: Direct Societal Benefits of Probabilistic Tornado Warnings

Abstract The National Weather Service is planning to implement the system of probabilistic tornado warnings. In this paper, I estimate and compare the full societal costs of tornadoes with existing deterministic and potential probabilistic warnings. These full costs include the value of statistical lives lost as well as the value of the time spent sheltering. I find that probabilistic tornado warnings would decrease total expected fatalities. The improvement in decision-making would also decrease the total opportunity cost of time spent sheltering, even though the total sheltering time is likely to increase. In total, probabilistic warnings should lower the societal costs of tornadoes relative to deterministic warnings by approximately $76–139 million per year, with a large portion of this improvement coming from fewer casualties. Significance Statement I measure societal benefits of probabilistic and deterministic tornado warnings in the United States by evaluating their effects on expected casualties and sheltering costs. I find that probabilistic warnings deliver almost twice as much net societal benefit as deterministic ones. These gains happen as a result of fewer casualties and making protective behavior more responsive to risks and sheltering costs. This paper provides additional evidence of the need to implement probabilistic extreme weather warnings.

Economic Valuation of Health Impact of Tightening and Easing PSBB Policies in DKI Jakarta

Coronavirus Disease 2019 or COVID-19 is a pandemic that has affected more than 200 countries around the world. This study aims to see the benefits of differences in the policy of easing the lockdown or PSBB (Pembatasan Sosial Berskala Besar), and in the progressive tightening of PSBB execution that had taken place from early March until 31 August 2020. The health impact benefits are calculated using the morbidity which includes Medical Costs and Temporary Productivity Loss (TPL), and the mortality which includes the Value of Statistical Life (VSL). ARIMA model is used for prediction simulation on positive cases of COVID-19 and benefit-transfer method for predicting death cases. If the strict rules are saliently successful in containing the development of positive cases, then DKI Jakarta will only have 54.2% or 18,460 cases and the death will only be 550 cases. Benefits of medical costs that can be incurred could save the health budget amounting to IDR1.26trillion. TPL affects most of those aged between 25–29, 30–34, and over 60 years and it also yields a benefit of IDR56 billion. From the death of many people aged over 60 years, it will contribute to the benefits of VSL amounting to IDR15.5 trillion.

The global COVID-19 mortality cost report card: 2020, 2021, and 2022.

The United States is the country with the greatest number of COVID-19 deaths in 2020, 2021, and 2022. Both the U.S. and the world exhibited an increase in the number of COVID-related deaths in 2021 and a decrease in 2022. The U.S. share of COVID-related deaths declined in 2021 but rose in 2022, leading to a cumulative total U.S. mortality share of 17%. The extent to which the U.S. is an outlier is even greater based on the monetized mortality costs. Using the value of a statistical life to monetize the mortality impact increases the performance gap between the U.S. and the rest of the world because of the high mortality risk valuation in the U.S. The worldwide COVID-19 mortality cost was $29.4 trillion as of January 1, 2023, with a U.S. share of $12.7 trillion, or 43% of the global total. Throughout the COVID pandemic, the U.S. mortality cost share has been in the narrow range of 43% to 45%. Given the high U.S. value of a statistical life, these monetized mortality cost values are more than double the U.S. share of COVID-related deaths. The U.S. mortality cost share is greater if the value of a statistical life declines more than proportionally with income for low-income countries.