2. The value of statistical life (VSL) is the willingness to pay for marginal changes in the...

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2. The value of statistical life (VSL) is the willingness to pay for marginal changes in the probability of death, measured in terms of a marginal rate of substitution between mortality risk and monetary wealth.

a. Why is this measure controversial? Explain any contrasting view, with examples.

b. What kind of a trade-off has to be made when evaluating costs and benefits of environmental measures to protect human health?

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Environmental And Natural Resource Economics

ISBN: 9781315523965

10th Edition

Authors: Thomas H Tietenberg, Lynne Lewis

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Question Posted: Sep 28, 2024 07:02 AM

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2. The value of statistical life (VSL) is the willingness to pay for marginal changes in the...

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Environmental And Natural Resource Economics

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