According to Viscusi and Gayer [2005], regulations in the United States vary greatly in the cost per

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?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Public Finance

ISBN: 978-0078021688

10th edition

Authors: Harvey Rosen, Ted Gayer

Question Posted: