Table 5 Credibility ratings for approaches to valuing changes in the risk of chronic morbidity
From: Ancillary human health benefits of improved air quality resulting from climate change mitigation
| Â | Criteria | Â | ||
|---|---|---|---|---|
Approach | Welfare Theoretic (Y/N) | Numbers of Studies (Many/Some/Few) | Other Limitations | Rating |
COI | Not usually; hospitalization; sometimes labor productivity (which is a revealed preference approach) | M: medical cost studies F: labor productivity studies | Pricing medical services can be difficult where medical care is socialized or subsidized | C-B |
Revealed preference | Y | Many on injury/accidents; not on morbidity | Â | C |
CV and choice experiments: health | Y | F | See above | B |
QALYs | Y (under very restrictive conditions) | M | Arbitrary monetization | C |