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You are trying to decide where to go on vacation. In country A, your risk of death is 1 in 20,000, and youd pay $5,000
You are trying to decide where to go on vacation. In country A, your risk of death is 1 in 20,000, and youd pay $5,000 to go on that vacation. In country B, your risk of death is 1 in 30,000, and youd pay $5,600 to go on that vacation. Supposing that youre indifferent between these two destinations, save for the differential risk of death, what does your willingness to pay for these vacations tell you about how much you value your life?
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