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What is the estimate of a value of statistical life

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Reference no: EM133130551

This is from Economic class (Health policy)

1. Assume a large group of individuals is willing to engage in an activity that has a 5% increased chance of death over the course of a year.

Further, assume this activity is a hazardous occupation, and these of these 1000 individuals are each compensated an additional $100,000 in salary.

What is the estimate of a value of statistical life (VSL) in this example?

2. Assume a large group of individuals is willing to engage in an activity that has a 5% increased chance of death over the course of a year. If there were 1000 individuals, how many would be expected to die?

Reference no: EM133130551

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