Multiple Choice
Suppose the value of life is estimated by comparing the earnings and probabilities of death from working on a fishing boat in Alaska with the earnings and probabilities of death from working in a fish processing plant in Alaska.The analysis concludes that a year of life is valued at $6 million.If risk-loving people take the jobs on the boats and risk-averse people take jobs at the processing plants,the estimate will:
A) overstate by at least two times the value of a life for the average person.
B) overstate by an unknown amount the value of a life for the average person.
C) be approximately equal to the value of a life for the average person.
D) understate by an unknown amount the value of a life for the average person.
Correct Answer:
Verified
Correct Answer:
Verified
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