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""To be clear, the VSL (value of a statistical life) does not, in a strict sense, 'put a price on a life'; rather, it represents the marginal benefit of preserving a life based on how much a society is willing to pay to do so....because its underlying calculus depends on measures such as income or GDP, the lives of those in lower-income nations (or indeed lower-income regions within a country) have a lower VSL" -p. 50" — Jun 14, 2024 07:02PM
""To be clear, the VSL (value of a statistical life) does not, in a strict sense, 'put a price on a life'; rather, it represents the marginal benefit of preserving a life based on how much a society is willing to pay to do so....because its underlying calculus depends on measures such as income or GDP, the lives of those in lower-income nations (or indeed lower-income regions within a country) have a lower VSL" -p. 50" — Jun 14, 2024 07:02PM
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