Question

According to Viscusi and Gayer [2005], regulations in the United States vary greatly in the cost per each life they save. For example, the regulation to install passive restraints in vehicles has a cost per life saved of $ 600,000, whereas the regulation to remove asbestos in workplaces has a cost per life saved of $ 180 million. What does this information imply about whether the regulations pass a cost- benefit test? How might resources be shifted between these regulations in order to reduce cost or save more lives?


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  • CreatedMarch 25, 2015
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