Calculations about the value of a statistical life

Reference no: EM133319328

Question 1: How much additional (time or money) cost would you be willing to pay to raise commercial airline safety from 99.990 percent to 99.999 percent? Do all people make the same relative evaluations of safety versus other goods?

Question 2: How does your answer to part a) above affect calculations about the value of a statistical life as used by regulatory authorities?

Reference no: EM133319328

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