In estimating regulatory benefits, the Environmental Protection Agency (EPA) and other government agencies typically assign a value
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In estimating regulatory benefits, the Environmental Protection Agency (EPA) and other government agencies typically assign a value of approximately $6 million to each life saved. What factors might the EPA consider in arriving at such a valuation? How would you respond to criticism directed at the EPA that life is precious and cannot be valued in dollar terms?
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From an economic standpoint the effectiveness of regulatory policy can and should be measured in ter...View the full answer
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