Re:The Logic of Risk Taking
by jasonmclaren on Wednesday October 04, 2017 @11:51PM
(#15406579)
There are different ways to measure how much people value their lives. Some of the most interesting involve "revealed preferences", ie. what people actually do, not what they say.
For example, how much higher wages do people demand for riskier work, controlling for other factors? Or, how much extra do they pay for, say, a car with a better safety record?
I just checked the Wikipedia article on the "value of a statistical life", and apparently most current US estimates are around $9 million. This is up from around $7 million a decade ago.
For example, how much higher wages do people demand for riskier work, controlling for other factors? Or, how much extra do they pay for, say, a car with a better safety record?
I just checked the Wikipedia article on the "value of a statistical life", and apparently most current US estimates are around $9 million. This is up from around $7 million a decade ago.
https://en.wikipedia.org/wiki/Value_of_life