CHDS’ James Hammitt participated in Lives versus Livelihoods: Evaluating Policies to Address COVID-19, sponsored by the London School of Economics and Political Science. The COVID-19 pandemic presents governments with an apparent tradeoff between limiting the health consequences of the disease and maintaining economic activities. Conceptual tools used by economists and decision scientists are useful in evaluating tradeoffs, including value of statistical life (VSL), value of statistical life years (VSLYs), quality-adjusted life-years (QALYs) and social welfare analysis. The webinar will discuss the value of these tools as well as the usefulness and limitations of formal modeling in the context of the COVID-19 pandemic.
Hammitt joined six other panelists in the webinar from across the globe. Suggested readings on the topic are included on the webinar announcement site.