Podcasts · OECD Podcasts

What is the Value of Statistical Life?

21 Sep 2026 · 28 min

Behind every statistic is a human-scale question. What is a safer commute worth? How much do people value cleaner air? And how can policymakers compare the cost of an intervention with the benefit of reducing mortality risk across a population?

In this episode of Behind the Numbers, our host Ashley Ward speaks with Olof Byström from the OECD Environment Directorate and Ståle Navrud from the Norwegian University of Life Sciences about the Value of a Statistical Life, or VSL. They explain what this frequently misunderstood measure means, what it doesn’t, and why it matters for evidence-based policymaking.

The conversation explores how economists estimate people’s willingness to pay for small reductions in mortality risk and what the OECD’s global meta-analysis of more than 4000 VSL estimates can add to the evidence base. Is also considers how this evidence can support more transparent and consistent decisions on air quality, road safety, food safety, chemicals management and other policies to protect human health.

Host: Ashley Ward, Director’s Office Advisor and Communications Manager (OECD Statistics and Data Directorate)

Guests: o Olof Byström, Senior Economist (OECD Environment Directorate) o Ståle Navrud, Professor (Norwegian University of Life Sciences, School of Economics and Business)

To learn more about this policy area, go to https://www.oecd.org/en/publications/2025/10/mortality-risk-valuation-in-policy-assessment_733b9d66.html To learn more about the OECD, our global reach, and how to join us, go to www.oecd.org/about/ To keep up with latest at the OECD, visit www.oecd.org/ Get the latest OECD content delivered directly to your inbox! Subscribe to our newsletters: www.oecd.org/newsletters

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