Assume that when the scope of risk reduction is 6/10,000, the value of statistical life is 200,000,000
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Assume that when the scope of risk reduction is 6/10,000, the value of statistical life is 200,000,000 yen, but when the scope of risk reduction is 2/10,000, the value of statistical life is 300,000,000 yen. Explain the discrepancies among these values of statistical life based on said risk reduction scopes.
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The discrepancy in the values of the statistical life at different risk reduction scopes is derived ...View the full answer
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Muhammad Umair
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