Value of Self-Rated Health Bleg
By Bryan Caplan
Social scientists and medical researchers often ask people to rate their own health. The General Social Survey, for example, asks respondents to place themselves on a four-step scale:
Would you say your own health, in general, is
excellent, good, fair, or poor?
Question: Do you know of any researchers who try to place a dollar value on self-rated health? I’m well aware of research on the dollar value of (a) a year of life, and (b) quality-adjusted life years. What I’m looking for is research that specifically puts a dollar value on a step of self-rated health.
I’m tempted to just ballpark it at 10% of annual full-time income per step on a four-point scale, but if anyone’s proposed anything more sophisticated, I want to know about it.
Thanks in advance.