
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Suppose that there are two otherwise-identical vacation destinations, but one has a 0.2% greater risk of death due to a riskier airport and roads. The total price of a vacation in the more dangerous destination is $10,000 less than in the safer destination. Both vacation destinations are well-frequented, but not fully booked. All vacation- goers value their lives identically. What is the implied VSL (Value of Statistical Life) among these vacation-goers?
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