Assuming that the elasticity of the value of statistical life with respect to income is between 0.5 and 1.2 and that the value of statistical life in the United States is between $4 million and $13 million, ranges of values ofa statistical life for Australia, Portugal, and Brazil are found in the first page of the spreadsheet, based on both equation (17.4) and equation (17.5).

Data on per capita income were obtained from theQuick Reference Tables section of the World Bank sitehttp://siteresources.worldbank.org/DATASTATISTICS/Resources/GNI.pdf, using the Altas method figures. Using the same source of data on per capita income, calculate ranges of the value of a statistical life for Norway, New Zealand and Croatia.