Table 4 Credibility ratings for approaches to valuing changes in the risk of mortality
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 |
Human Capital | N | M (not recent) | Undervalues non-workers | D |
COI | Not usually; in principle could be if separate estimates available for pain and suffering | M | Usually underestimates | C |
Revealed preference: Hedonic Labor Market; others | Y | M | Inappropriate commodity/Population sampled | B |
CV and choice experiments: health | Y | S | Hypothetical; hard to understand small probability change | B |
QALYs | N (except under very restrictive conditions) | M | Monetization arbitrary | C |