Table 7.
Value of life in New Zealand
| No | Area | Source | Relevance | Type of estimate | Stated value (NZ$) | Year | 2019/2020 Value* (NZ$) | VOLY (NZ$) | VSL (NZ$) | QALY (NZ$) |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Health | Pritchard et al | Academic estimate based on PHARMAC decisions from 1998–2001 | QALY | 20,000 | 2001 | 28,342 | 26,073 | 667,896 | 28,341 |
| 2 | Health | Treasury | Value from the CBAx tool for use in cost benefit analysis | QALY | 33,306 | 2019 | 33,306 | 30,640 | 784,904 | 33,306 |
| 3 | Transport | Ministry of Transport | Estimate in the context of road crashes and injuries | VSL | 4,340,000 | 2018 | 4,494,540 | 207,311 | 4,494,540 | 225,347 |
| 4 | Transport | Treasury | Value from the CBAx tool for use in cost benefit analysis | VSL | 4,900,000 | 2019 | 4,900,000 | 226,013 | 4,900,000 | 245,676 |
| 5 | Environment | Treasury | Value from the CBAx tool for use in cost benefit analysis | VSL | 4,900,000 | 2019 | 4,900,000 | 226,013 | 4,900,000 | 245,676 |
*Values were only updated to 2019/2020 values if they were not already up to date, and if guidance suggests that this is required/appropriate. Only the values in italics were adjusted. Values in bold are the original values, after adjustments. A discount rate of 1.5% and life expectancy of 81.1 were used in calculations. All values are in local currency