How many subsequent infections are caused by an asymptomatic infection? How much effort is expended to prevent those infections, by the asymptomatic individual and others?
"We first use the Department of Transportation (2016) guidance on value per statistical life (VSL) and severity/injury estimates as a basis for our non-fatal valuations by category. After updating the figures for earnings and inflation the DOT guidance recommends using a VSL of about $11 million in 2019 dollars. We use the severity classifications in the DOT guidance as a basis for our non-fatal valuations. DOT (2016) recommends using six different severity categories in benefit-cost analyses including Level 1 (minor), which corresponds to using a 0.3 percent amount of the VSL, Level 2 (moderate), which uses about a 5 percent amount,Level 3 (serious), which uses about a10 percent amount,Level 4 (severe), which uses about a 27 percent amount fraction,Level 5 (critical), which uses about a 59 percent amount,and Level 6 (unsurvivable) which uses a 100 percent amount(the full VSL). We therefore value asymptomatic cases at about $11,000 (in 2019 dollars) each which corresponds to using a 0.1 percent amount of the VSL in DOT (2016)."
0.1% of a statistical life is about a month? It's also a third of the "minor" classification.
How would you value it? $0? Clearly, that's not right.[1] Less than $11,000? More?
[1] Consider a new infectious disease which has only minor symptoms immediately, but may have unknown health consequences in the future.
"We first use the Department of Transportation (2016) guidance on value per statistical life (VSL) and severity/injury estimates as a basis for our non-fatal valuations by category. After updating the figures for earnings and inflation the DOT guidance recommends using a VSL of about $11 million in 2019 dollars. We use the severity classifications in the DOT guidance as a basis for our non-fatal valuations. DOT (2016) recommends using six different severity categories in benefit-cost analyses including Level 1 (minor), which corresponds to using a 0.3 percent amount of the VSL, Level 2 (moderate), which uses about a 5 percent amount,Level 3 (serious), which uses about a10 percent amount,Level 4 (severe), which uses about a 27 percent amount fraction,Level 5 (critical), which uses about a 59 percent amount,and Level 6 (unsurvivable) which uses a 100 percent amount(the full VSL). We therefore value asymptomatic cases at about $11,000 (in 2019 dollars) each which corresponds to using a 0.1 percent amount of the VSL in DOT (2016)."
0.1% of a statistical life is about a month? It's also a third of the "minor" classification.
How would you value it? $0? Clearly, that's not right.[1] Less than $11,000? More?
[1] Consider a new infectious disease which has only minor symptoms immediately, but may have unknown health consequences in the future.