> > > > > > > >

Pricing Lives: Guideposts for a Safer Society

Product Image is Unavailable
$39.96  

Like it or not, sometimes we need to put a monetary value on peoples lives. Government agencies formerly used the financial cost of death to monetize the mortality risks of regulatory policies, but this method vastly undervalued life. Pricing Lives tells the story of how the government came to adopt...
[ See full desciption and details below ]

  • ISBN-13: 9780691179216
  • ISBN-10: 0691179212
  • Publisher: Princeton University Press
  • Media: Hardcover
  • Quantity Available: 10 or more
  • Status: Available for Immediate Shipment
Check availability at  buy Pricing Lives: Guideposts for a Safer Society at Amazon.com

 

or

Pricing Lives: Guideposts for a Safer Society

from the manufacturer

Like it or not, sometimes we need to put a monetary value on peoples lives. Government agencies formerly used the financial cost of death to monetize the mortality risks of regulatory policies, but this method vastly undervalued life. Pricing Lives tells the story of how the government came to adopt an altogether different approachthe value of a statistical life, or VSLand makes the persuasive case for how its widespread adoption can result in a safer and more equitable society for everyone. In the 1980s, W. Kip Viscusi used his VSL method to demonstrate that the benefits of requiring businesses to label hazardous chemicals immensely outweighed the costs. VSL is the risk-reward tradeoff that people make about their health when considering risky job choices. With it, Viscusi calculated how much more money workers would demand to take on hazardous jobs, boosting calculated benefits by an order of magnitude. His current estimate of the value of a statistical life is 10 million. In this book, Viscusi provides a comprehensive look at all aspects of economic and policy efforts to price lives, including controversial topics such as whether older peoples lives are worth less and richer peoples lives worth more. He explains why corporations need to abandon the misguided cost-of-death approach, how the courts can profit from increased application of VSL in assessing liability and setting damages, and how other countries consistently undervalue risks to life. Pricing Lives proposes sensible economic guideposts to foster more protective policies and greater levels of safety in the United States and throughout the world.

Item Details
  • ISBN-13 : 9780691179216
  • ISBN-10 : 0691179212
  • Media : Hardcover
  • Pages : 280
  • Status : 85 on hand
Other Details
People
Category breadcrumbs