4 ms·
>It is possible to determine the value placed on life, I believe there are studies that show the value is more stable than you might think, and balance things a
by Maybestring 9y ago
>It is possible to determine the value placed on life, I believe there are studies that show the value is more stable than you might think, and balance things appropriately.
For evaluating safety regulations relative to the cost of inplementation, NHTSA values the risk of loss of human life in relation to the market value of risk reducing products, and the safety they provide.
They extrapolate from the take rate of airbags and their cost and effectivity, to how much value the average American places on their own life. IIRC on the order of $5 million.
FYI, juries do not look kindly on companies that implement this in liability suits. The data is that if a corporation writes down a $-figure for a (statistical) human life, it anchors punitive fines at a higher level.