What is the implied value of a statistical life

Assignment Help Business Economics

Reference no: EM131006461

Suppose that hedonic wage studies indicate a willingness to pay $75 per person for a reduction in the risk of a premature death from an environmental hazard of 1/50,000. If the exposed population is five million people, what is the implied value of a statistical life?

Reference no: EM131006461

Questions Cloud

Were there any past incidents of unethical practices : Have there been any reports of unethical practices within the profession recently? Were there any past incidents of unethical practices

Increase in antidumping policies : Listed below are only a couple of issues on the WTO's current agenda. Please discuss and explain why these items are of great concern. Increase in antidumping policies. Lack of strong protection for intellectual property rights in many nations.

Blood pressure : What are the phases you go through when someone takes your blood pressure?

Analyse the communication demonstrated in the film wit : This task requires you to analyse the communication demonstrated in the film ‘WIT' by Mike Nichols by responding to the following questions/directions:

What is the implied value of a statistical life : Suppose that hedonic wage studies indicate a willingness to pay $75 per person for a reduction in the risk of a premature death from an environmental hazard of 1/50,000. If the exposed population is five million people, what is the implied value of a..

Saved by that time in order maintain her modest lifestyle : Janet Elliot just turned 20 and received a gift of $20,000 from her rich uncle. Janet plans ahead and would like to retire on her 55th birthday. She thinks she'll need about 1$million saved by that time in order maintain her modest lifestyle. How muc..

Is acid rain a problem for plant species and crop : Knowing that acid rain has a pH of 2 - 3 would you conclude that crop species with a narrow soil pH range are in trouble? Explain why, or why not, using scientific reasoning. Is acid rain a problem for plant species and crops?

What''s the longest time a human can hold their breath : What's the longest time a human can hold their breath?

Briefly describe the person profiled in this personal story : In 1 paragraph, briefly describe the person profiled in this personal story (e.g. gender, age, background, and any other pertinent information that will put the person's experience with PTSD into perspective)

User Account

All Pages