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Use willingness to pay approach to calculate value of human life. Probability of a child dying in a car accident is 2 per 100,000 children.

Use willingness to pay approach to calculate value of human life. Probability of a child dying in a car accident is 2 per 100,000 children. Using child car seat reduces probability of dying by 45%. If a car seat costs $120, what is the value of life?

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