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> To illustrate the point with arbitrary numbers is a 1% improvement worth $10B ? The NHTSA uses estimates for "Statistical Value of Life and Injuries" and "Va
by jefftk 4y ago
> To illustrate the point with arbitrary numbers is a 1% improvement worth $10B ?
The NHTSA uses estimates for "Statistical Value of Life and Injuries" and "Value of Travel Time": https://www.transportation.gov/regulations/economic-values-used-in-analysis https://www.transportation.gov/regulations/economic-values-u...
For 2021 they value a life at $11.8M: https://www.transportation.gov/office-policy/transportation-policy/revised-departmental-guidance-on-valuation-of-a-statistical-life-in-economic-analysis https://www.transportation.gov/office-policy/transportation-...
Very roughly, if your 1% improvement cost $10B/y, the NHTSA would consider it worth it if it averted at least 847 (10B/11.8M) annual deaths.
- maerF0x0 4y agoCool! I never knew that. Thanks for the great comment!