Reference no: EM133392524

Part 1.

Identify what the human capital approach is to valuing human life.

Part 2.

Select numerical examples for premiums based on age and explain the principle of adverse selection.

Part 3.

When people are too poor to afford treatment costs for life-threatening illnesses, such as heart surgery or cancer treatments, how could the willingness to pay approach be higher than the human capital approach?

Part 4.

Based on the PodCast's reference to the WHO's formula (and the Lead's examples) for countries to evaluate cost benefit drug treatment versus life, pick a country and run the formula based on that country's current GDP.