Question: This answer is wrong. The VSL is supposed to be $ 5 , 0 0 0 , 0 0 0 . For b , I

This answer is wrong. The VSL is supposed to be $5,000,000. For b, I think the answer to the first part is that you would want VSL estimates based on someone who had had a heart attack if the experience of having a heart attack could only be well-understood by someone who had experienced it (i.e. they were uniquely qualified to judge how much should be spent to avoid the phenomenon in question). For the second part, I think the answer should be that for phenomena (i.e. jobs) and require significantly less risk aversion than average, you would want to use the judgment of the entire population rather than the people who tend to flock to these phenomena. Will you please review this and let me know what you think?
This answer is wrong. The VSL is supposed to be $

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