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2. (Valuation of Life, 40%) Please answer the folling questions regarding valuation of life: What is the difference between a statistical life and a certain

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2. (Valuation of Life, 40%) Please answer the folling questions regarding valuation of life: What is the difference between a statistical life and a certain life? When is a person's WTP for his own life is higher than his no-risk lifetime labor income? In the monkey paradise metaphor, how do we decide whether to pursue economic development or go for life saving? 2. (Valuation of Life, 40%) Please answer the folling questions regarding valuation of life: What is the difference between a statistical life and a certain life? When is a person's WTP for his own life is higher than his no-risk lifetime labor income? In the monkey paradise metaphor, how do we decide whether to pursue economic development or go for life saving

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