How Uncle Sam Values Mortality Risk Reductionsby Paul F. Scodari, Environmental Law Inst, United States,
Ann Fisher, Environmental Law Inst, United States,
Abstract: This paper reviews the policies, methods and 'value-of-statistical-life' (VSL) estimates used by several federal agencies to assess the economic efficiency of their life-saving regulatory programs. The shift toward the use of economic-based estimates for regulatory analysis will foster more accurate valuation of regulatory life-saving benefits. This should, in turn, lead to more efficient decisionmaking concerning federal rulemakings involving significant mortality benefits.
Subject Headings: Traffic accidents | Traffic safety | Federal government | Economic factors | Risk management | Decision making | Traffic analysis
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