COST-BENEFIT ANALYSIS: AVERTING SEASONAL FLUS BY AIR SANITISING
WHAT IS COST-BENEFIT ANALYSIS?
We make multiple cost-benefit analyses every day, each answering a simple question: “Is this worth doing or buying?”
In the marketplace, cost-benefit analyses are based on comparing two components: probability of undesirable event multiplied by the cost of losses caused by that event, expressed in dollars (risk) and the cost of preventive measures designed to avert or minimize the possible losses (cost), in the world of probabilities, the “averted risk.” Monetized value of the first component is the benefits. Decisions are then made based on the comparison of costs and benefits.
COST AND BENEFIT OF AIR SANITIZING
The benefits of effectively sanitizing indoor air space are the losses averted by reducing the number and severity of seasonal flus. Losses appropriate for inclusion in the calculations must be taken from statistics such as the numbers of lost workdays, costs of goods or products never produced, values of undelivered services, or loss-of-income or costs of lost lives.
The costs in the air sanitizing cost-benefit analysis are the money spent on acquiring and maintaining the air sanitizing equipment, mobile devices or HVAC systems creating “virus-free” indoor space at restaurants, cafes, shops, retail establishments, offices, etc.
A Cost-Benefit research project will be a good source of information. Results will be helpful to decisionmakers on all levels of business and government.
A government, NGO or a commercial sponsor is welcome!
 Interestingly, a cost-benefit analysis should be called “benefit-cost” analysis: benefit is always the starting point of any analysis; the cost comes second.