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The NHTSA has a similar number, I believe its in the realm of $2 million per life. Its based off of medical costs and a few other "organic" numbers to estimate
by jdsully 8y ago
The NHTSA has a similar number, I believe its in the realm of $2 million per life. Its based off of medical costs and a few other "organic" numbers to estimate what the population as a whole values a life at.
Its morbid but it has to be this way or transportation would be unaffordable.
- __s 8y agohttps://en.wikipedia.org/wiki/Value_of_life https://en.wikipedia.org/wiki/Value_of_life
- notahacker 8y agoUnsurprisingly, the aviation insurance industry has also cost per life calculations. An aviation insurance broker who bought industry data from us wanted to know if there was any way we could provide them with hard data or reliable estimates the percentage of passengers flown by an airline flights who were American citizens, because the potential liabilities associated with the loss of American lives were so much greater...
- JBReefer 8y agoIt's $9.6 million per life. They have a really nice set of guides here [0] on how to use it. There's a high and low value and also injury costs. Also, there's a cost to lost travel time. [0] https://www.transportation.gov/regulations/economic-values-used-in-analysis https://www.transportation.gov/regulations/economic-values-u...